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Sports Business: Fox Sports Buys Rights to New ‘Big East’

sports businessMarch Madness is upon us.

The action is bound to be exciting like it is every year.

Upsets will happen, game winning shots will occur and no one will be able to predict the eventual winner of the tournament because as we all know, surprises always happen in the NCAA. This is why March Madness is one of the best tournaments in sports.

It was announced earlier this month that the Big East division would become a newly named division and have teams break away from it. For the time-being the media is calling it the old Big East.

The new Big East division will feature  the ‘Catholic 7′ schools that broke away from the old Big East earlier this month – Providence, Georgetown, St. John’s, Villanova, Marquette, Seton Hall and DePaul – as well as three newly announced members Butler, Creighton and Xavier.

It was recently announced that Fox Sports has officially purchased the rights to coverage of the new Big East. An outstanding sports business move by Fox Sports.

The deal is a 12-year agreement and comes one day after ESPN purchased the rights to coverage of the old Big East.

The agreement grants Fox Sports rights to all conference-controlled men’s basketball games, select rights to women’s basketball, all Olympic sports and extensive rights for highlights and to produce ancillary programming.

Fox Sports 1 will be the primary outlet for the Big East coverage, broadcasting over 100 hours of Big East games including the Big East tournament.

With the agreement, Fox Sports now holds media rights associated with five major college conferences: Big East, Big Ten, Big 12, Pac-12 and Conference USA.

“We applaud all the Big East schools for taking responsibility for their own destiny and forming what is clearly one of the top college basketball leagues in the country,” said Randy Freer, Fox Sports co-president and COO.

“The quality of the competition is obvious. Five teams who will play in the renewed Big East next season are playing in this year’s NCAA tournament, and seven qualified for postseason play overall. We’re extremely proud and fortunate to offer college basketball of this caliber on FS1 next season and for many seasons to come.”

Photo Credit: Sherman Report

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