Report: ESPN expected to pay additional $345 million per year for 24-team College Football Playoff
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Under the 24-team College Football Playoff, ESPN is expected to pay an additional $345 million per year for the next five years, ESPN’s Pete Thamel reported. That’s in addition to the $1.3 billion per year the network is already paying.
Conference championship games are expected to go by the wayside under the expanded CFP, as On3 reported this week. As a result, ESPN would get back roughly $140 million per year, meaning it would basically only be paying $205 million for the new-look field, according to ESPN. The network owns the rights to three power conference championship games: the SEC, ACC and Big 12.
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As Ross Dellenger noted for On3 last week, because conference championship games were likely to go away as a result of the 24-team CFP, a minimum of at least $300 million would be needed if the field was to expand to 24 teams.
ESPN has been the exclusive media rights holder for the College Football Playoff since its inception in 2014. Last month, the CFP opened a 30-day negotiating window with the network, with the deadline set for Oct. 9. However, as Dellenger reported for On3, that deadline extended as many as five business days to Oct. 16 or even Oct. 19.
ESPN reported Thursday that the College Football Playoff was nearing a deal to expand to 24 teams. No vote took place at a regularly scheduled meeting, On3’s Pete Nakos reported, and the CFP later said in a statement that discussions with ESPN were ongoing.
“Constructive discussions with ESPN continued this week,” the CFP’s statement read. “We have enjoyed a strong partnership with ESPN since our inception and are appreciative of the productive dialogue we have had throughout the negotiating period and continuing over the last several days. We will provide additional updates on the matters of future format and media rights when appropriate.”
This story will be updated.
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