Based on a TV deal in the works that could pay upwards of $25 million per year, Texas is leaning toward staying in a 10-team Big 12 for the foreseeable future, Orangebloods.com has reported, citing sources familiar with negotiations.
Texas was meeting Monday with the other remaining nine schools in the Big 12 about a TV deal included in a plan put together by Big 12 commissioner Dan Beebe that would keep the league intact with its current programs, according to multiple reports.
Texas stands to earn between $20 million and $25 million annually in television revenue in the reworked deal, including money from its own network, according to Orangebloods.com.
The Longhorns network figures to generate between $3 million and $5 million, according to the report. Because the Big 12 has unequal revenue sharing, the deal will mean more money for Texas, Texas A&M and Oklahoma, who all would receive at least $20 million annually from the new deal.
The other seven schools in the Big 12 would make between $14 million and $17 million, doubling what they currently receive in TV revenue.