The Atlantic Coast Conference has signed a 10-year contract extension with Raycom Sports/Jefferson Pilot Sports that a source familiar with negotiations said is worth more than $300 million for the broadcasting, marketing and Internet rights for men's and women's basketball and all other conference sports except football.
The extension doubles the average intake for each of the ACC schools from the existing contract that would expire after the 2000-01 school year. Under the extension, Raycom/Jefferson Pilot plans to broadcast more women's basketball games and championships in other ACC sports not currently aired. Raycom/Jefferson Pilot also will manage ACC Properties, which conducts the marketing and licensing for the conference.
"From a financial and exposure point of view," ACC Commissioner John Swofford said in a statement, "this agreement gives our schools a great deal of stability and continuity for the future."
ACC associate commissioner Tom Mickle said the extension stipulates that Raycom/Jefferson Pilot cannot use virtual advertising signage on its broadcasts without permission from the ACC. The technology, known as chromakey, allows production companies to superimpose advertising on the screen.
By signing a lengthy extension, the ACC and Raycom/Jefferson Pilot continued a recent trend in which companies favor long-term deals.
"It takes that long-term frame to justify the dollars being spent," said Ken Haines, executive vice president of Charlotte-based Raycom Sports. "That is one reason you saw the NCAA deal [a $6 billion, 11-year extension with CBS] go out so far."