Three people familiar with the negotiations say the Pac-10 has agreed to a 12-year television contract with Fox and ESPN that is the most valuable in college sports. The people say the contract will be worth more than $225 million per year. They spoke on condition of anonymity because the deal has not been announced. The contract was first reported by Sports Business Daily. The previous richest deal for a conference is the $220 million a year that the Big Ten currently earns. While most of the high-profile football and men’s basketball games will be on channels owned by Fox or ESPN, the conference is interested in starting its own network. The conference will become the Pac-12 on July 1 with the additions of Utah and Colorado, according to the AP.