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The Big 12 conference’s six-year, $2.2 billion media rights agreement with ESPN and Fox, in 2025, was largely predicated on football. What else? Sure, the conference that bled Texas and Oklahoma to the SEC doesn’t quite have the powerhouses its peers do—Texas Tech can’t exactly qualify as a blue blood despite a trip to the CFP as a four-seed, even with all that Cody Campbell money—but college football remains the third-largest asset class in modern media, short of only the NFL and NBA. In fact, multiple sources across the industry have told me that networks routinely assign 90 percent or more of a conference’s media rights fees to football, with basketball accounting for 10 percent.