UK Athletics, JMI Sports Agree to 15-Year, $210 Million Media Rights Deal

June 23, 2014 at 12:30p    by DJ Byrnes    
UK will presumably use this money to pay for the damages caused by a Godzilla-sized football player rampaging through their stadium.
8 Comments

In 2009, Ohio State signed a then-record media rights deal with IMG and RadiOhio. It pays Ohio State about $11 million a year.

Well, the price on Ohio State's next contract just went up significantly. Today, according to the Louisville Courier-Journal, Kentucky officially announced it will leave IMG and sign a deal with JMI Sports for $210 million over 15 years, starting in 2015-2016.

From the Louisville Courier-Journal:

UK's current deal with IMG, which expires in April, was worth $80.5 million over 10 years. This new deal is significantly larger despite television rights no longer being included due to the SEC's broadcast agreements and upcoming launch of the SEC Network. Under its agreement with JMI Sports, UK's guaranteed rights fee starts at $9.1 million in 2015-16 and increases annually up to $16 million in 2029-30.

There is also a $29.4 million signing bonus to be paid over the first two years of the contract, which UK noted in its news release "will help the university fund important capital projects."

Alabama recently signed a $150 million, 10-year contract with Learfield Sports back in April.


8 Comments

Comments

jamesrbrown322's picture

Now THAT's a bad investment...I mean people in Kentucky can't even read right?

"Success is not final, failure is not fatal: it is the courage to continue that counts." - Winston Churchill

+8 HS
bedheadjc's picture

Given that they can only, usually the smart ones, count to ten I am assuming they are taking the payer's word for it in regards to the other $209,999,990.

HouseHarleyBuilt's picture

So, we can expect Ohio States to be 15 years and 2 billion dollars.

+11 HS
Unky Buck's picture

$209.5 million of that is for basketball.

...

+3 HS
Chief B1G Dump's picture

I wonder how they'll feel when Calipari bolts for the NBA, in the wake of his departure Kentucky gets hammered with sanctions and vacating wins, and their basketball team is blacked out of tourneys and media?

Also, Kentucky football will always be Kentucky football.

 

+2 HS
buckeyestu's picture

Sure hope you are right Chief!

northcampus's picture

Kentucky's population is about a tenth of Ohio's, but down there about 90% of that population considers themselves rabid UK fans, so the broadcast rights cover basically the state's entire population.  Even Louisville has a high amount of UK fans.  UK's radio teams for football and basketball are actually pretty solid (one of the UK football broadcaster's dad played football for Ohio State I think).

Knarcisi's picture

More money for Cal to shop out to 5 one and dones a year.