More news is coming out about the Pac-12's multimedia deal and fans of the Pac-12 should be giddy of this latest update. Pac-12 Commissioner Larry Scott spoke with CBSSports.com about Pac-12 Media Enterprises -- which consists of the Pac-12 television network and online presence -- and how it could possibly be worth $1 billion over the life of the contract be worth $1 billion over the life of the contract:
"I can tell you this, based on offers people have made to us we've got at least a billion-dollar business we're sitting on," Scott told CBSSports.com. "That's just Pac-12 Media Enterprises."
He later added: "That is a broad figure that has been thrown out to us by media investors. That's a potential minimum value over a seven-to-10 year period."
Dividing $1 billion among 12 schools could mean an additional $83 million is gross revenue total per school. Depending the on length of the deal, that means Pac-12 Media Enterprises alone could produce an additional $8.3 million-$11.9 million per year for each school. The schools already are guaranteed an average of $21 million per school in the ESPN-Fox deal.
This deal could possibly give each school over $30 million per year and would make the Pac-12 far and away the richest conference multimedia deal. The Pac-12 Media Enterprises is the company that will manage the league's new network, digital rights and conference level sponsorship and licensing.
If that extra money does not get you exciting there is also this:
The digital possibilities, he continues to say, are limitless. There are 2,700 Pac-12 "events" available for broadcast each year according to Pac-12 TV consultant Chris Bevilacqua. To date, only 131 of those have been sold. Scott wants Pac-12 content on every device imaginable. There already have been discussions with Google as a possible partner.
Partnering with Google is a big deal, because it means that YouTube could be in the works to stream the other Pac-12 events. All in all, this is another reason why Larry Scott is a visionary man and is taking the Pac-12 to new heights.