A person familiar with the contract said it was worth about $80 million per year through 2026. The person spoke on condition of anonymity because terms of the agreement were not being made public and details were still pending.
The Big 12 and SEC recently picked the Sugar Bowl as the site of their new marquee game, starting in the 2014 season.
The champions of each conference will play in the game, unless those teams are selected for the four-team playoff that also starts that season. In that case, other highly ranked teams from the Big 12 and SEC will play in the game.
The Sugar Bowl will be one of six sites in the playoff rotation, along with the Rose Bowl, Orange Bowl and three more still to be announced. How often each bowl hosts a semifinal is still to be determined. ESPN’s deal with the Sugar Bowl calls for it to broadcast the game even in years it hosts playoffs.
ESPN earlier this year reached a similar 12-year deal, for about the same price, with the Pac-12 and Big Ten for the rights to the Rose Bowl. ESPN’s 12-year deal with the Atlantic Coast Conference, also announced earlier this year, is worth about $55 million per year. The Orange Bowl and ACC have been working on a deal that would lock up the other spot in the game for either a SEC team, a Big Ten team or Notre Dame.
The person said that deal should be announced soon.
ESPN also is working on a 12-year deal for the entire playoff package of 24 semifinals and 12 national championship games, along with the other three host bowls, that has been reported to be worth around $500 million per year.