While SEC, Big 12 strike sugar, ACC finalizes 12-year Orange Bowl deal

The Big 12 and Southeastern Conference have agreed to a 12-year deal with ESPN for the rights to the Sugar Bowl in New Orleans., while the ACC has reached a 12-year agreement with the Orange Bowl, according to reports.

A person familiar with the Sugar Bowl contract told The Associated Press that it was worth about $80 million per year through 2026. The person spoke on condition of anonymity because terms of the agreement were not being made public and details were still pending.

ESPN, meanwhile, reported Wednesday that the ACC's deal with the Orange Bowl will pay $55 million per year. The game will match the ACC champion, or another highly-ranked team, against the highest-ranked available team from a pool that includes the SEC, the Big Ten and Notre Dame. The agreement is set to go into place in 2015.

The Big 12 and SEC recently picked the Sugar Bowl as the site of their new marquee game, starting in the 2014 season.

The champions of each conference will play in the game, unless those teams are selected for the four-team playoff that also starts that season. In that case, other highly ranked teams from the Big 12 and SEC will play in the game.

The Sugar Bowl will be one of six sites in the playoff rotation, along with the Rose Bowl, Orange Bowl and three more still to be announced. How often each bowl hosts a semifinal is still to be determined. ESPN's deal with the Sugar Bowl calls for it to broadcast the game even in years it hosts playoffs.

ESPN earlier this year reached a similar 12-year deal, for about the same price, with the Pac-12 and Big Ten for the rights to the Rose Bowl.

ESPN also is working on a 12-year deal for the entire playoff package of 24 semifinals and 12 national championship games, along with the other three host bowls, that has been reported to be worth around $500 million per year.