The Big 12 Board of Directors voted over the weekend that The football and men’s basketball revenue from Tier I and Tier II contracts will be shared and will take effect once each of the nine schools commit to a grant of rights for at least six years. Now the Big 12 will be watching the Missouri Board of Curators who meet today in St. Louis.
The board is expected to vote on 1) shared revenue in the Big 12 and the grant of rights. Or there are still some who believe the Curators will vote on 2) to give Chancellor Brady Deaton the authority to cut a deal to move to the SEC.
Let me explain what the technical terms mean, starting with Tier I and Tier II contracts. Tier I games are basically nationally televised games that air on the big four networks, CBS, NBC, ABC, and Fox. Tier II games are all football games that air on cable and ESPN or Big 12 network basketball games are also considered Tier II.
The “grant of rights” term that was voted on for six years, basically means that any school that leaves early would forfeit the TV revenue it accumulates during that period.