The United States Olympic Committee and the Big Ten Conference received a financial boost in separate deals.
The 11-school Big Ten signed a 10-year football-basketball package with ABC Sports and ESPN that is worth more than $500 million, according to several sources.
The package, which also includes women's basketball and volleyball, is the biggest TV deal for any conference, said the sources, who spoke under the condition they not be identified.
Breaking down the package, each of the 11 Big Ten teams will get about $5 million per year from 1998 through the 2006-2007 basketball season. One source said the conference would also receive extra money for the 1997-98 season, boosting the new 10-year agreement well over $500 million, "but less than $600 million."
Today in New York, the USOC will announce the most lucrative sponsorship agreement in sports history, as General Motors and NBC Sports join in a commitment that sources say will add up to $1 billion or more in revenue for the USOC over the next 11 years.
The announcement, to be made at NBC studios, also will introduce a new USOC entity called OPUS, or Olympic Properties of the United States. OPUS will serve as the umbrella organization for the USOC's marketing and licensing activities.