U of Texas reaches 20-year, $300 million deal with ESPN

http://www.statesman.com/news/texas/texas-reaches-20-year-300-million-deal-with-1195427.html

Texas reaches 20-year, $300 million deal with ESPN
Associated Press

AUSTIN, Texas — University of Texas at Austin President William Powers Jr. says the school has reached a 20-year, $300 million deal with ESPN for a 24-hour television network that will broadcast Longhorn sports and some non-athletic content.

Powers tells the Austin American-Statesman for Wednesday's online edition that the school is assured at least $10 million in revenue for the first five years of the contract.

Officials say ESPN has guaranteed all $300 million, with about $247.5 million going to the university and $52.5 million going to IMG College, a company that handles marketing and licensing for the university.

The UT System Board of Regents gave Powers approval in November to negotiate with a broadcast partner. The agreement does not replace existing TV deals.

:sarcasm:

Highest government salaries in Texas:

Name Agency Title Salary
Mack Brown The University of Texas at Austin Head Coach $2,511,667
Richard D Barnes The University of Texas at Austin Head Coach $1,916,667
Thomas Tuberville Texas Tech University Head Coach $1,500,000
Gail A Goestenkors The University of Texas at Austin Head Coach $930,834

:)