Pac-12 media deal proposal: Primarily Apple TV+, revenue dependent on subscription growth
The Conference of Champions gets likely its last lifeline with a deal that could keep the Pac-12 afloat.
The Pac-12 presented their best possible media rights proposal to the remaining nine members of the conference. Here are the majority of the terms as summarized by Pete Thamel of ESPN:
The leader in the clubhouse is an AppleTV+ deal that would land the bulk of Pac-12 football games on their streaming service at an add-on price, similar to what the MLS and MLB do with AppleTV.
This deal would be less than the outstanding offer out from the Big 12, currently sitting at just over $31 million a year for each school through 2031. But it has the opportunity to rise as Apple would be willing to increase the value of the media deal if enough subscribers sign up for the standalone Pac-12 add-on. So the revenue payout will be tied to overall subscriptions.
The Apple deal is expected to be a short-term contract until the conference stabilizes.
It’s very unclear as to whether these terms would satisfy the schools that are rumored to be searching for a new home. Arizona is the most active member involved in those discussions now, likely to follow Colorado to the Big 12, as a closed meeting of the Arizona Regents quickly followed the Pac-12 meeting.
There have been whispers about Arizona State not being as enthusiastic about leaving, but if Arizona goes it’d be hard to imagine them leaving ASU behind. Utah would also likely be in the mix for a third bid.
And there is of course Oregon and Washington, who have to be furious. An inferior media revenue deal with very limited linear television coverage would relegate their programs to below what they believe their brands deserve.
As for Cal and Stanford, who knows what they’re thinking? I’d imagine they’d be in the same bandwagon as Oregon and Washington, but not a single peep has been coming from the Bay.
And there is our brothers and sisters in Corvallis and Pullman. Really feeling for the Beavers and Cougars right now, who are probably the only ones fairly excited about this deal.
We will see what the next few days hold. There could be some movement. There could be a reluctant acceptance of this deal. Or there could be oblivion.