ESPN and the College Football Playoff have agreed to a six-year deal worth $1.3 billion annually, giving the network exclusive rights to the 12-team playoff through the 2031 season, two people familiar with the deal told The Associated Press. Ta.
The officials spoke to The Associated Press on condition of anonymity on Tuesday. No deal will be finalized until CFP resolves other outstanding issues regarding format and revenue allocation.
ESPN first reported the network’s $1.3 billion annual offer to CFP. First reported by The Athletic An agreement was reached on those terms.
The network declined to comment.
“Negotiations are continuing,” CFP Executive Director Bill Hancock told The Associated Press.
This season’s playoffs will be expanded from four teams to 12 teams, but ESPN’s existing 12-year contract runs through the 2025-26 season.
The deal will pay CFP $608 million annually for seven games: two playoff semifinals, one championship game and four other major bowl games.
The total value of the previous two years of the original contract is expected to rise as the number of games in the package increases from seven to 11.
Commissioners of the conferences that control the playoffs have often talked about having multiple television partners to reach an agreement on expansion.
