HIGH POINT, N.C. (WGHP) — The Big Ten has agreed to a historic media rights deal with three of the major networks.

The deal with Fox, CBS and NBC will begin on July 1, 2023, and will last until the end of the 2029-30 athletic year.

The historic deal establishes the Big Ten as a power conference amid a very turbulent time in college athletics.

The conference recently expanded to 16 teams with the announced future additions of the University of Southern California and the University of California, Los Angeles to the conference from the Pac-12.

With the new deal, it is estimated that the Big Ten will be able to distribute between $80-$100 million in revenue a year to each of its members.

That historic and sizable number will substantially boost the upside and competitive advantage of Big Ten programs in comparison to other conferences.

The deal also puts the Big Ten in a position to compete on the same level playing field as the SEC, which signed a $300 million media rights deal with ESPN which will go into effect in 2024.

The deal also places pressure on the other three Power 5 conferences, the ACC, Big 12 and Pac-12, to secure media rights deals of their own to stay competitive.

The Pac-12 lost its two most lucrative programs to the Big Ten in UCLA and USC. The Big 12 before them experienced a similar fate with the University of Oklahoma and University of Texas bolting to the SEC.

In both cases, those four lucrative brands jumped at the opportunity to earn more by joining power conferences with high-value media rights deals to stay competitive. The remaining three Power 5 conferences will likely have to secure deals of their own to keep teams securely in their conference.