Big Ten Officially Announces Unprecedented Billion-Dollar Media Deal With Fox, CBS, NBC

The Big Ten has formally announced the league's new media deal.

The B1G announced Thursday morning the conference has agreed to an unprecedented media deal with Fox, CBS and NBC starting in July 2023 and running through the 2029-2030 season.

Fox will showcase the noon EST game, CBS gets the 3:30 EST game and NBC will get a weekly primetime game under the lights. Notably, ESPN has been completely frozen out.

Big Ten officially announces new Big Ten media deal. (Photo by David Berding/Getty Images)

The total value of the deal, which is the richest in the history of sports, wasn't announced by the B1G. But Brett McMurphy reported the deal is worth between $7 billion and $8 billion.

Plus, there's escalators built in that raise the value to $10 billion.

"The Big Ten Conference media rights agreements are more than just dollars and deals. They are a mechanism to provide stability and maximum exposure for our student-athletes, member institutions and partners during these uncertain times in collegiate athletics. We are very grateful to our world-class media partners for recognizing the strength of the Big Ten Conference brand and providing the incredible resources we need for our student-athletes to compete at the very highest levels, and to achieve their academic and athletics goals," B1G commissioner Kevin Warren said in a statement announcing the news.

After months of speculation about what the Big Ten would do, the conference has inked a deal that will showcase the B1G on three networks for at least $1 billion annually.

It's a deal unlike anything we've ever seen before, and that's great news for the B1G.

New Big Ten media deal announced. (Photo by Gregory Shamus/Getty Images)

Now, we wait to see how the SEC responds! Welcome to the new era of college football.