In a landmark agreement, the NCAA and ESPN have announced a significant eight-year partnership, valued at a staggering $920 million. The deal grants ESPN exclusive broadcasting rights to 40 NCAA championships, headlined by the Division I women’s basketball tournament, a rapidly growing fan-favorite event.

The deal’s financial details reveal an annual value of $115 million, according to Reuters. That figure represents a substantial 300 percent increase from the previous 14-year contract with ESPN, a development highlighted by NCAA President Charlie Baker.

“The NCAA has worked in earnest over the past year to ensure that this new broadcast agreement provides the best possible outcome for all NCAA championships, and in particular women’s championships,” Baker said.

The agreement encompasses a diverse range of 21 women’s and 19 men’s sports, notably expanding to include tennis, track and field, men’s gymnastics, the women’s Division II and III basketball and volleyball championships, and the men’s Division II and III basketball championships.

“From Day 1, we made it very clear to Charlie and team that we were interested in an extension on the exclusivity side as well as the fact that we were interested in acquiring more rights, not less,” ESPN chairman Jimmy Pitaro said.

The increasingly popular women’s March Madness tournament accounts for about 57 percent of the contract’s value, translating to roughly $65 million per year, according to the NCAA’s media consultant, Endeavor’s IMG and WME Sports. With star players like Angel Reese and Caitlin Clark, last year’s title game between LSU and Iowa drew nearly 10 million viewers.

In an exciting development, Baker mentioned plans for the NCAA membership to discuss the creation of performance units for the women’s tournament, akin to those in the men’s tournament. These units would financially reward conferences for their successes in the tournament. The rights to the NCAA men’s basketball tournament, valued at approximately $900 million annually, is a separate deal with CBS and Warner Brothers Discovery and extends through 2032.

This new deal represents not only a significant financial boost for the NCAA but also a milestone in acknowledging and promoting women’s sports. It is a step forward in ensuring equal visibility and investment in women’s athletics, reflecting a changing landscape in sports broadcasting and audience interests.