... rights to football and basketball.

According to the Sports Business Journal, the new deal is worth $1.86 billion over 12 years. The new contract will pay the conference $155 million a year.

The ACC's current deal, which ends in 2010-2011, pays the league $67 million a year for its television rights, averaging on a per-school basis $5.6 million. The new contract will give each institution more than double what they take home now, an annual pay of $12.9 million. 

The way the current contract is designed, it is divided between football and basketball. The new deal with ESPN combines both sports. The football deal it currently has is a seven-year, $258 million agreement with ABC/ESPN that expires this year.

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Read Complete Article at Bleacher Report - College Football