Big paydays are no rarity in the Big Ten, but the conference's latest reported media rights deals are giving new meaning to "perks of membership."
According to a Monday morning report from the Sports Business Journal's John Ourand, ESPN will shell out $1.14 billion over six years for the second half of the Big Ten's media rights package, meaning the conference's average media rights payout will almost triple.
In April, Fox was reported to have purchased the first half of the package, which begins after the upcoming college basketball season concludes, for an average of $240 million a year.
Additionally, CBS re-upped its basketball deal with the Big Ten, meaning another $10 million a year. All in all, between three deals with three networks for the media rights to football and men's basketball games, the conference will bring in $2.64 billion over the next six years.
And the length of those deals is significant, as well, as the conference will get to do this all over again just six years from now.
According to Ourand, the terms of the new deals with Fox and ESPN include roughly 25 football games and 50 basketball games for each network. Big Ten Network (of which Fox owns 51 percent) will still show its typical allotment of games, as well.
Fox will carry the Big Ten Championship Game every year for the next six years, and Fox will have "game selection advantages" over ESPN, meaning the biggest games will go to Fox (see: Michigan-Ohio State).
Before each season, the networks will pick the weeks where they get first choice of games. Fox will have the first pick every year; ESPN will have the second; Fox will have the third, and so on.
Also, fewer Big Ten games will be shown on ESPN U, with most ESPN games airing on ABC, ESPN and ESPN 2.
CBS will continue to air the semifinals and title game of the Big Ten Tournament.
The massive amount of money is just added benefit for the conference's 14 schools, which will see a big infusion of cash.