05/04/2011 07:48 pm ET | Updated Jul 04, 2011

New Pac-12 Launches Lucrative TV Network

The Pac-10, soon to be Pac-12, is starting it's own TV network that will have the capability to broadcast all football and basketball games within the conference.

According to the Associated Press, the joint venture with ESPN and Fox, worth approximately $3 billion, is currently the richest deal made in college sports. It goes into effect in 2012.

After the July acquisition of Utah and the University of Colorado at Boulder, the Pac-10 becomes the Pac-12. CU spokesperson Bronson Hilliard tells HuffPost that the university hopes to showcase themselves competitively off the court or field as well.

"I think it will be an amazing opportunity for us. First of all it's an amazing feature and deal for Pac-12 members, and I think for us it will be momentous exposure. There are representational opportunities for the university, especially since it gives us a chance to bring our alumni closer together since it will broadcast to them as well," Hilliard said, referring to all the alumni in California, Oregon and other current Pac-10 members.

Sports Information Director David Plati says they have another word for the new network.

"Ca-ching!" Plati told HuffPost, although he emphasized the risk that season ticket sales could stay where they are since the games will all be broadcast.

"Right now in football, we sell just under 30,000 season tickets," Plati said of Folsom Field which has a capacity of over 53,000 seats.