Each of the schools earn 10-20 million per annum on T3 rights outside of their ESPN-based TV Media package of 40.9 in the latest year. On top of that, Texas was supposed to be getting an additional 15 million per year for the LHN, but ESPN has not been paying them and has fallen behind 160 million - essentially, ESPN has never paid for the LHN since it started.

So the range of payout in the Big-12 has been 40.9 (equitable sharing) + 10-20 million for roughly 51 to 61 million per member per annum. This was putting the Big-12 schools in close proximity to the Big Ten and SEC, but not enough for Texas and Oklahoma.

Two days after this news cycle started on the departure, Bowlsby conferred with ESPN on many, many issues and one of them was drop in expected TV media rights payout. ESPN responded quickly - as though they had those figures in hand, wonder why - and said the loss of Texas and Oklahoma would reduce the payout from 40.9 to 26.9 per annum per member in the current year if enacted.

Each year the Big-12 package grows about 4 million dollars until it comes to term. If that drop is relative that will see that 4 million growth stunted to 2.63 million for 2022, 2023 and 2024. The math would be 40.9 - 14.0 = 26.9 for 2021. 29.53 for 2022, 32.16 for 2023 and 34.79 for 2024.

Will that happen? I highly doubt it, although Bowlsby seems optimistic on the subject - all of this is contracted. ESPN cannot change the contact outside of the construction agreed to when it was put into force. We shall see.

Here is the issue for ESPN, even with the loss of Texas and Oklahoma, the remaining 8 schools of the BIg-12 are still doing better than anyone in the ACC or Pac-12. That has been the problem for ESPN. I think the BIg-12 was doomed the moment ESPN lowballed the ACC on its media rights deal.

If the ACC had gotten a better deal, this might not be playing out this way. But, ESPN has been losing subscribers for years with cord cutters. Something had to give. They decided to circle the wagons in the SEC and bring in as many cash cows as they could - hence Texas and Oklahoma.

I think the BIg-12 will get a new deal with ESPN that will be close to the current situation under threat of dragging this all into court by Bowlsby or FOX will come in and provide a similar payout.

These numbers are why no one is leaving the Big-12. It is still well worth the benefit of membership and the CFP as we all know is going to be set up so there are enough seats that even the Big-12 will get at least one school in every year.

Personally, I think this has all worked out well for the Big-12. Texas is the SEC's problem and they have no idea what they let in through the back door.