EUGENE - The Pac-12 Conference has agreed to a new 12-year media rights agreement with Fox Network and ESPN which will result in unprecedented national exposure and opportunities for athletic and academic programs at the University of Oregon. In addition, the league will own and operate the Pac-12 Network to be launched in the fall of 2012.
As a result of the agreement, the financial benefits will help Oregon continue the Athletics Department's self-sufficiency mandate.
Terms of the agreements were not disclosed.
"We congratulate Larry Scott and his team for delivering on a grand scale for our conference, our university, our student-athletes and fans," said Oregon Athletics Director Rob Mullens. "The new agreements dramatically increase our national exposure while providing a solid, long-term financial foundation to help ensure we remain self-sufficient."
The Pac-12 network will provide coverage of up to 350 live events, ancillary sports and academic programming. It also will include a digital on-line network, with total revenue and distribution yet to be determined.
Mullens said the additional revenue projections generated from the new agreements already were taken into consideration when building the department's long term self-sufficiency model upon his arrival last summer. The department's tremendous growth over the past five years, accompanied by unprecedented success, necessitated our investments for the future. These resources will now support the short-term financial forecast while ensuring Oregon Athletics retains the necessities to remain an elite program.
The Oregon athletics director emphasized that the schools' anticipated annual shares are averages over the course of the 12-year agreement which will gradually increase as the length of the pact progresses.
"Our challenge remains the same as we expressed in the fall; build upon the recent momentum and continue to provide a premiere, first-class student-athlete experience, compete for championships and to operate in a sound financial manner," Mullens added. "To that end, the agreement better equips us to do that for the near future."
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