Yahoo Sports: ESPN pays Big12 $10M in restructered contact

[WVBlue]

By Nick Broomberg
October 25, 2015
Yahoo Sports


ESPN has reportedly given the Big 12 some additional cash in exchange for the removal of a potentially costly clause in the network’s contract with the league.

http://sports.yahoo.com/news/report-espn-pays-big-12-10m-in-restructuring-tv-contract-after-conference-doesnt-expand-144449541.html

 

[WVex-pat in GA]

ESPN paid the league an extra $10 million over the remaining eight years of its contract. In exchange for the payment, the Big 12 reportedly removed language in its contract with ESPN that would mandate the network pay the conference more if it expands to 12 or more teams.

So every team will get an extra $125,000 per year to not seek expansion?

ESPN got off cheap.