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Texas reaches 20-year, $300 million deal with ESPN

Texas reaches 20-year, $300 million deal with ESPN
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Wednesday, January 19, 2011 - 12:26pm

AUSTIN, Texas (AP) - University of Texas at Austin President William Powers Jr. says the school has reached a 20-year, $300 million deal with ESPN for a 24-hour television network that will broadcast Longhorn sports and some non-athletic content.

Powers tells the Austin American-Statesman for Wednesday's online edition that the school is assured at least $10 million in revenue for the first five years of the contract.

Officials say ESPN has guaranteed all $300 million, with about $247.5 million going to the university and $52.5 million going to IMG College, a company that handles marketing and licensing for the university.

The UT System Board of Regents gave Powers approval in November to negotiate with a broadcast partner. The agreement does not replace existing TV deals.

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