What about Tier 3 rights?
Per ESPN’s Pete Thamel:

“This extension will mark the end of what’s known as third-tier rights for the Big 12, in which schools controlled certain game inventory. Instead, those third-tier rights will be distributed to ESPN, which means the schools no longer have to sell them.“

In the previous Big 12 deal, the schools were permitted to sell their Tier 3 rights (usually a football game, a few non-conference men’s basketball games, most women’s basketball games plus sports that aren’t football or men’s basketball) to independent rightsholders, and they often did to then-Fox’s portfolio of regional sports networks. You will also recall that this is how we got the Longhorn Network.

Those are now under the ownership of Sinclair Broadcasting, which is hemorrhaging money trying to keep them afloat and may sell them outright. The streaming revolution has not been kind to these entities, and so we may see the new Big 12’s Tier 3 rights go to ESPN in the form of ESPN+, which has a preexisting relationship with the Big 12 and has brought great value to UCF in particular.