Despite UT Windfall, SEC Remains Strongest

Continued financial support from TV partners -- the most important of which was ESPN -- put a halt to the destruction of the Big 12 Conference and provided powerhouse Texas millions of reasons to stay home and stop the carousel of conference realignment this week.

With the Big 12 down to 10 members because of moves by Nebraska and Colorado to the Big Ten and Pac-10, respectively, ESPN told conference officials it would maintain payouts according to its contract that runs through 2016. It's a bigger commitment for ESPN than fellow TV partner Fox Sports Net just because FSN's contract with the Big 12 ends in 2012. So ESPN will continue paying for 12 schools and getting 10 for a longer period of time.

Also, the remaining members of the Big 12 get "buyout" money from the two programs leaving the conference and Texas has a green light to create its own, school-specific television network.

Those factors make Texas the king of the conference by almost every possible measure -- especially because several of the remaining Big 12 schools agreed to take a smaller portion of the buyout money so UT could have more. They did so to keep Texas in the conference, and ensure that the conference remains alive for them.

Still, the Big 12 itself lags behind the just-enhanced Big Ten and Pac-10 as a top-to-bottom national TV draw. And everyone trails the Southeastern Conference, at least in terms of what other entities are willing to pay to broadcast games.

That's because the SEC makes more with less. It has deals with ESPN and CBS that total $3 billion and run through 2024 -- and it earned that kind of support despite having fewer major TV markets in its region than other conferences. So, people clearly must be interested across the nation.

At least the people signing the checks believe viewers are interested. Or, maybe ESPN and CBS overbid three years ago when they signed the deals, hoping to prevent the formation of an SEC Network similar to the already successful Big Ten Network.

Either way, TV money pumps essential financial life into the SEC despite the fact that it has just two top-15 TV markets in the region (No. 8 Atlanta and No. 13 Tampa). Even crediting Florida markets to the SEC, which might be a reach because of competition from the Atlantic Coast Conference which has Florida State and Miami, the SEC's other big makets are all outside the top 15. They are -- No. 16 Miami, No. 19 Orlando, No. 27 Raleigh-Durham and No. 29 Nashville.

Conversely, the Big Ten and revamped Pac-10 can each claim seven top-25 markets. Had the Pac-10 completed the Texas acquisition, it would've had 10 top-25 markets but that did not happen.

With realignment seemingly slowing down, the real impact of the moves might not be felt until the Big 12 attempts to update its existing TV deals. When that happens, the conference will find out of the comparative windfall continues. It's hard to imagine the Big 12 will ever be a more valuable TV property than the SEC, though.

Meanwhile the Big Ten makes up for its slightly lower payout from outside networks with its own Big Ten Network. The revenue from that entity, whose financial model includes a portion of cable subscribers' bills coming directly to the BTN, helps the Big Ten reap bigger per-school TV revenues than the SEC.