The Big 12 is finalizing a new six-year media rights package with its current partners ESPN and Fox, sources confirmed to Front Office Sports. The deal, which starts in 2025, is worth a total of $2.28 billion.

The deal solidifies a conference whose very existence was in question just a year ago when Texas and Oklahoma announced they would leave for the SEC, taking half of the conference’s media rights value with them. 

But new commissioner Brett Yormark was able to negotiate a package that will bring in millions more than the current deal. The additions of BYU, Cincinnati, UCF, and Houston undoubtedly provided a boost.

• The average annual revenue is $380 million — $160 million more than the final years of the current deal.
• ESPN will have the top package of football games over Fox, as well as the championship games for basketball and football. 
• After dropping out of Big Ten rights, ESPN was very interested in the Big 12, as FOS previously reported.

Sports Business Journal first reported the news.

State of Expansion

The new deal is modest compared to the Big Ten, but it puts the Big 12 ahead of the Pac-12, which could have expansion implications.

The Pac-12 hasn’t announced a new package even though its media rights deal expires in 2024. Now, the Big 12 is ahead, able to tout a lucrative deal more than a year earlier than previously expected.

Yormark previously told FOS that expansion was “top of mind,” but that his main focus was welcoming the four new schools successfully next year.

November could be the biggest month of sports betting in U.S. history.

While it will feature regular games from the NFL, NBA, and NHL, plus the end of the World Series, the biggest factor is likely to be the World Cup, which kicks off Nov. 20. 

• The total sports betting handle for the 2018 World Cup in Russia was around $135.3 billion, per FIFA. 
• Three U.S. states had legalized sports betting at that time, but now 32 states allow sports bets, with several more pending, according to Action Network.
• The U.S. is guaranteed three matches in the group stage against Wales, England, and Iran, with the top two of those four teams moving on to the knockout stage.

The total sports betting handle in the U.S. for this year reached $61.7 billion through September, already topping 2021’s total of $57.7 billion. That sum was more than double 2020’s total of $21.5 billion.

MLS Ready for Action

Major League Soccer has already cashed in on the growth potential of betting on U.S. soccer. The league signed a deal with IMG Arena worth a reported $270 million to provide betting software and services.

While the league has been growing in popularity, many are anticipating a leap in U.S. interest in 2026, when the World Cup comes to 11 U.S. cities, plus three in Mexico and two in Canada.

Comcast is reportedly considering a sale of Sky Deutschland that could value the unit at $998 million.

When Comcast posted its third-quarter earnings on Thursday, the media giant reported that lower sales in Germany and Italy offset its gains in the U.K. — and that it took an $8.6 billion non-cash charge on Sky due to “macroeconomic conditions.”

The TV conglomerate — the largest pay-TV provider in the U.S. — acquired Sky DE in 2018 when it purchased British broadcaster Sky for $39 billion.

Sky DE’s portfolio in Germany is shrinking after DAZN recently expanded its footprint in the country. 

• In 2019, DAZN acquired the majority of the UEFA Champions League rights in Germany, replacing Sky DE, which had “20 years of partnership with UEFA.” 
• Last year, DAZN announced plans to roll out DAZN For Business in Germany, its global commercial premises business.

Because of the change in coverage for Sky DE, “there was a negative impact on subscriptions, a loss of possibly 200,000 or 300,000, and on the average spend by subscriber,” said Francois Godard, a media analyst at Enders Analysis.

But Godard added that Sky DE, which includes operations in Austria and Switzerland, is on a financially sustainable path due to declining costs.

Comcast Report

Comcast reported a 1.5% year-over-year decline in third-quarter revenue to $29.8 billion and a net loss of $4.6 billion. Sky posted a 14.7% year-over-year decline in third-quarter revenue to $4.3 billion, but added 320,000 subscribers.

Columbia Sportswear Company reported record third-quarter revenue behind double-digit growth in profits for the period ending Sept. 30. 

The sportswear and outdoor apparel retailer posted $955 million in net sales in Q3 2022, a 19% increase year-over-year. It attributed the record-breaking results to growth led by its SOREL footwear and Columbia brands, which saw net sales increase by 28% and 19%, respectively. 

• SOREL posted $112.4 million in net sales in Q3 2022. 
• The Columbia brand reported $773.3 million in net sales over the quarter.
• Mountain hardware saw net sales reach $31.9 million, up from $28.7 million in Q3 2021.
• Total full-year net sales are expected to range between $3.44 billion and $3.5 billion. 

In September, Columbia announced a strategic plan to accelerate growth. The Oregon-based company will focus on its footwear, international expansion, and digital sales to increase profits. 

Columbia is aiming for full-year net sales between $4.5 billion and $4.7 billion in 2025.

Perfect Deal 

Columbia secured a multiseason deal with sports and entertainment company Dude Perfect to collaborate on outdoor sports content for YouTube and social media in September.

That same month, Dude Perfect released renderings of a proposed sports and entertainment center that would cost roughly $100 million. The project would be a family-friendly venture.