Colorado’s long-rumored move to the Big 12 is hurtling toward reality, further solidifying the growing influence of media-rights fees in college football.

On Wednesday, the Big 12 voted to welcome Colorado as a full member in 2024, according to multiple reports. A second Colorado Board of Regents meeting is scheduled for Thursday at 5 p.m. ET, and it’s possible that CU submits an official application to join the Big 12 if its regents vote to depart the Pac-12.

Complete financial details remain unclear, but Colorado will receive a full share of the Big 12’s media rights fees next year, which amounts to $31.7 million, according to the Action Network. In 2025, a new $2.28 billion contract with ESPN and Fox kicks in that’s set to pay the conference an average of $380 million annually through 2031.

The Pac-12 declined comment to Front Office Sports, and the Big 12 has not responded to a request for comment. 

It’s likely Colorado saw the writing on the wall that the Pac-12 likely won’t surpass or even reach the same revenue numbers as the Big 12 after its current media deal — also with ESPN and Fox, and worth $250 million annually — ends after this season.

Who’s Next?

The Big 12 is assumed to be adding a 14th team before next season, as well. Pac-12 schools like Utah, Arizona, and Arizona State — as well as the Big East’s UConn — have been suggested as potential targets.

Peacock has one of the most enviable sports lineups of any major streaming player — but is it resonating with consumers? 

NBC’s streaming service boasts a lineup featuring the NFL, MLB, soccer’s Premier League, and Spanish-language rights to the World Cup and Women’s World Cup — not to mention the Olympics, Big Ten and Notre Dame football, NASCAR, and the PGA Tour. 

But second-quarter earnings released by parent Comcast on Thursday suggest the platform’s massive sports buildup — including a $110 million deal for an exclusive NFL Wild Card game — hasn’t fully connected with customers.

Peacock generated a subscriber base of 24 million, up by just 2 million from the prior quarter. Quarterly revenue soared by 85% to $820 million, but the adjusted loss deepened from $467 million year-over-year to $651 million.

The Peacock subscriber total is also less than the 25.3 million subscribers Disney reported for ESPN+ at the end of its fiscal second quarter and far below rival general-interest streaming services such as Netflix (238.4 million), Disney+ (157.8 million), Paramount+ (60 million), and Hulu (48.2 million).

“Sports continues to be a huge driver,” said Comcast president Mike Cavanagh.

ESPN Deal ‘Very Improbable’

Comcast also dismissed the possibility of becoming a minority partner of ESPN. Prior speculation centered in part on Comcast after Disney CEO Bob Iger said earlier this month he was open to equity partners for the sports media giant.

“I would just say that’s very improbable,” Cavanagh said, citing tax and structural issues.

However, he did admit that a Comcast bid for NBA rights is “something I’d like to see us take a look at.”

After expressing frustration and confusion in the wake of the PGA Tour’s bombshell framework agreement with Saudi Arabia’s Public Investment Fund, professional golfers appear intent on grabbing more control of their future.

On Wednesday night, PGA Tour commissioner Jay Monahan sent a memo to players attempting to answer several hot-button questions after a Player Advisory Council call and Policy Board meeting. The two biggest developments concern the respective compensation and discipline for loyal Tour players and LIV Golf defectors, plus the selection of a new board member. 

A player benefits program is being put together with input from loyal Tour members, while a task force evaluates how LIV players should be able to apply for reinstatement. Monahan said the benefits program — likely for players who turned down hundreds of millions of dollars to join LIV — would be “financially significant.” 

Additionally, a replacement for Randall Stephenson — who resigned because of the PIF deal — will need unanimous approval from the policy board, including the five players serving as members. That means whoever is chosen will likely be a strong ally for players moving forward.

No So Fast

Another major piece of news from Monahan’s memo is that the PGA Tour does not plan on supporting the USGA and R&A’s proposed distance rollback on how far golf balls travel. A lack of collaboration from the PGA Tour would be a major blow to the governing bodies’ plans to start reining in distance — particularly on tee shots — beginning in 2026.