CBSsports.com reports the Big12's negotiations with ABC (read "ESPN") and Fox are nearing a lucrative conclusion.
The bottom line numbers are $2.6 billion total, or $20 million annually per school.
And the ball and chain that keeps the Big 12 together (or, more specifically, what keeps Texas and OU in the conference) is in tact: any school that leaves for another conference can't take its media rights with it. The schools signed over their media rights to the conference, for at least six years, when Texas was last courting the Pac12.
The new deal is for 18-20 top tier games per year according to industry sources. This new deal is based on a 10-team league and sources said it could be worth even more per school if the Big 12 expands to 11 or 12 teams.
This puts the Big12 schools on par with the SEC, Big10, and Pac12 schools-- unless the Pac 12 is able to make good on its boasts of $30 million per school, once all of its mini-networks are running.
How does that compare to TCU's recent media money history? The Mountain West schools got about $1.5 million annually from the mtn., and I think about a million more from the conference's other media partners. So this is somewhere in the neighborhood of a 1300% increase in media money. TCU apparently is ramping up to a full share (like Utah is doing with the Pac12) but the increase will be large, immediate, and welcome in Fort Worth.
TCU's complete athletic budget doesn't exceed $50 million.