The Pac-12 still doesn't have a new TV deal in place. Sources tell @TheAthletic a lack of bidders and the Big 12 jumping the line may result in less $$ than Kliavkoff envisioned.
— Stewart Mandel (@slmandel) February 9, 2023
Plus:
The latest on Pac-12 expansion and OU/Texas early Big 12 exits.https://t.co/CaY5Z2SYXX
Last July, shortly after USC and UCLA's defections, the Pac-12 opened negotiations for its next media rights contract, which would take effect with the 2024 football season. Seven months later, there's still no deal and people are getting antsy. With good reason.
Three people with knowledge of the discussions said commissioner George Kliavkoff is struggling to find partners willing to pay close to what the league is seeking. Two of those sources said Kliavkoff overpromised his members on how many bidders there would be and what dollar amount they could command a target north of $40 million per school, according to one league athletic director.
Today, it's uncertain whether the Pac-12 will even be able to exceed the $31.6 million average the Big 12 reportedly landed in a six-year extension with ESPN and Fox it reached last fall.
"(We) don't have a deal because it hasn't been good," said the AD.
Kliavkoff made some key miscalculations. At last summer's Pac-12 media day, he suggested the Big Ten's pending jackpot which wound up being for $8.1 billion over seven years would have a ripple effect on the Pac-12. But the Big Ten is a much more watched conference that garnered interest from nearly every major linear and digital media company.
The Pac-12, by contrast, has found fewer bidders since going to the open market. Fox, for one, has expressed little interest now that the Los Angeles schools are part of its prized Big Ten package. And CBS (Big Ten and Mountain West) and NBC (Big Ten and Notre Dame) are set in college football for the next several years. However, one Pac-12 administrator did indicate a new player emerged shortly after the new year.
Kliavkoff also sounded certain last summer that his league would be next in line after the Big Ten because its deal was up a year earlier than the Big 12's (which runs through 2025). But Big 12 counterpart Brett Yormark outflanked him, convincing existing partners ESPN and Fox to open up negotiations a year early.
Whereas Kliavkoff drew out the process by taking his rights to market, Yormark reached an extension of the current contract within a couple of months. And the Big 12's agreement may have provided its own ripple effect on negotiations by unofficially setting a ceiling.
"It's tough when your neighbor across the street sells his house for a low price," said the Pac-12 administrator.
https://theathletic.com/4171699/2023/02/09/college-football-realignment-pac-12-smu-big-12/