How much less would you have been willing to take to get the shorter term? Part of why the contract was worth so much to ESPN was the exclusivity it gives them. If it was for a shorter term they would have not been willing to pay as much. How much less?
There are "look in windows" at 5 years and 10 years that allow the ACC and ESPN to bring the deal up to market value at those times. ESPN is basically bidding against itself but it is something.
You are right that the ACC's deal with ESPN would've been less. How much less I don't know. I just don't like the ACC having all their eggs in one basket. The SEC has ESPN and CBS, the Pac 12 and Big 12 have ESPN/ABC and Fox Sports. The Big 10 has ESPN/ABC, The Big 10 Network, and have their championship game on Fox. It would be nice to have an ACC Network.
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