CFB insider drops major Pac-12 media deal update amid reports of conference realignment looking to add one more school 

Insider John Canzano provided a major update regarding a Pac-12 media deal on Wednesday. The conference is in a state of flux right now as it only has two teams this season (Washington State and Oregon State).

This is because most of the teams in the conference got realigned and went to other conferences in the NCAA.

The Pac-12 is attempting to rebuild itself and will likely add several teams over the next few years. However, part of this major realignment means the conference needs a new media deal.

Canzano claims that the Pac-12 will know by the spring who the next school to join will be, and in the meantime, the conference is hyperfocused on its new media rights deal.

Sources told Canzano that postseason revenues in basketball and football will be:

"Distributed using a 50-50 performance-based formula for all Pac-12 members."

As a result, net revenues for the CFP and Men's and Women's NCAA Tournament will be split. Lastly, Canzano added:

"It will be interesting to see if the conference splits the TV rights into a football package and a basketball package with two different buyers rather than bundling them with one entity. The appetite of the potential partners will drive that decision”

The Monty Show provides a Pac-12 media deal update

The host of "The Monty Show" also provided a Pac-12 media deal update on Wednesday. He spoke about the discussions the conference has had with ESPN and Fox.

"The Pac-12 has basically gone radio silent as they try to find themselves a new media rights distribution deal. I am told by sources high up in the TV industry that ESPN and Fox are having serious and substantive conversations with the Pac-12. Every Pac-12 athletic endeavor, should a deal be struck, would be on ESPN+ and all football games that are in prime windows would be on ESPN 2 and ESPN+ as part of a reimagined relationship between the Pac-12 and the folks at ESPN.

"I am told that Fox is not in a position where they would be willing to put major games in prime windows on The Big Fox. That is not what they are talking about. They are talking about FS 1, ESPN 2, and ESPN+ and if those are the main players, I think that is a very solid deal."

So, although John Canzano has stated that it could be a few months before an official Pac-12 media deal comes through, discussions are ongoing. The Pac-12 will continue its discussions with ESPN and Fox until a deal gets done.