The Indianapolis-based NCAA has inked a long-term extension on its Division I Men’s Basketball Championship deal with CBS Sports and Time Warner Inc. (NYSE: TWX) subsidiary Turner. The eight-year boost lengthens the agreement through 2032.
Under the deal, CBS Sports and Turner have live coverage rights across all current and future platforms. The NCAA says more than 90 percent of revenue generated through the estimated $8.8 billion deal will benefit student-athletes through programs, services, Division I and II scholarships and championship opportunities, as well as through direct distribution to member conferences and schools.
The current format, which includes NCAA Tournament games televised across TBS, CBS, TNT and truTV has been in play since 2011. March Madness Live, which streams the games online with three "distinct vantage points," was launched two years ago.
NCAA President Mark Emmert says "the extension of our current agreement will allow our more than 1,100 NCAA member colleges and universities to continue to support student-athletes on 19,000 teams across 24 sports. We have a diverse membership with varying resource levels, and this extension will assist our campuses as they provide pathways to opportunity in higher education and beyond for nearly a half a million young men and women each year."
The NCAA says television broadcasts alone have reached an average of more than 10.2 million total viewers per game over the last six years.