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Active bidding for BCS TV rights

The story is pitched as "first major sports event goes to cable," but for me the real information is in the size of the bids:

On Monday afternoon, current rights-holder Fox Sports notified the BCS Group that it wouldn't match an offer from ESPN for a rights package that will begin in 2011. Fox Sports is in the middle of a four-year deal for the BCS Championship as well as the Orange Bowl, Sugar Bowl and Fiesta Bowl.

ESPN had offered $500 million for four years, compared to Fox Sports' $400 million. Even Fox's offer is still up compared to the current rights deal, which pays $330 million.

That's a 51.5% increase folks. Perhaps it's a sign that we'll avoid economic armageddon after all.