UT Strikes 20-Year, $300 Million Deal With ESPN

View Comments (
)
|
Email
|
Print

    NEWSLETTERS

    Getty Images
    ESPN/UT deal spans 20 years.

    University of Texas at Austin President William Powers Jr. says the school has reached a 20-year, $300 million deal with ESPN for a 24-hour television network that will broadcast Longhorn sports and some non-athletic content.

    Powers tells the Austin American-Statesman for Wednesday's online edition that the school is assured at least $10 million in revenue for the first five years of the contract.

    Officials say ESPN has guaranteed all $300 million, with about $247.5 million going to the university and $52.5 million going to IMG College, a company that handles marketing and licensing for the university.

    The UT System Board of Regents gave Powers approval in November to negotiate with a broadcast partner. The agreement does not replace existing TV deals.