The Big 12 Might Be Closing In A Significant New Media Deal

The Big 12 is apparently closing in on a new media deal.

Brett Yormark's conference is in a race against the PAC-12 to land a new media deal. It's been that way for a couple months. Now, it sounds like there could be significant progress made in the coming days with ESPN and Fox.

During an appearance on College Sports on SiriusXM, Yormark said a decision could be finalized "in the next week or two." If a deal doesn't come together, the Big 12 could get back at in 16 months after the conference bets on itself, Yorkmark added.

While it's not known exactly how much the deal might be worth, Andrew Marchand speculated it could be worth as much as $400 million annually, according to 247Sports.

If the conference gets that kind of money with Texas and Oklahoma leaving, there's no doubt Yormark will have done an incredible job. That's a lot of money for a conference that won't have a true powerhouse.

Time is very important for the Big 12 when it comes to a new media deal.

Right now, the Big 12 and PAC-12 are in a race to see which conference can get a deal done first. Judging from Yormark's comments, it certainly seems like his conference is in a better position.

If the Big 12 is able to lock down a big media deal before the PAC-12, Yormark can go to teams that are in the middle of the conference with concrete numbers.

The Big 12 is nearing a new media deal. How much will the deal be worth? Will the Big 12 poach members of the PAC-12? (Photo by David K Purdy/Getty Images)

There's still serious speculation the Big Ten might not be done poaching. If Stanford, Cal, Oregon and Washington leave, the race will be on for survivors to find homes. The Big 12 having a media deal locked down would go a long way stealing the leftovers.

If the PAC-12 is able to lock up its members with a media deal before or even shortly after the Big 12, then it's hard to imagine the conference doesn't survive.

The Big 12 is closing in on a new media deal. Commissioner Brett Yormark said it could be done in the coming weeks. How much will a new media deal be worth? (Photo by Brian Bahr/Getty Images)

Given all the chaos of the past few months in the college football world, it certainly seems like Yormark is doing a nice job of steadying the ship and leading his conference. Will his leadership result in a huge windfall? It's definitely starting to look that way.