Thursday, the NCAA announced a $10.8 billion deal with CBS Sports and Turner Broadcasting System, Inc., to present the Division I Men’s Basketball Tournament for the next 14 years.  This deal includes all television, internet, and wireless rights.

Four national networks will be showing the championship starting in 2011, which is a first in the 73 years the championship has existed.  According to Deadline Hollywood, “Beginning with the 2011 championship, opening , first- and second-round games will be shown nationally on CBS, TBS, TNT and truTV.  CBS and Turner will split coverage of the regional semi-final games.  CBS will provide coverage of the regional finals, as well as the Final Four including the National Championship Game through 2015.

Beginning in 2016, coverage of the regional finals will be split by CBS and Turner with the Final Four and the National Championship game alternating every year between the CBS Television Network and Turner’s TBS.”

ESPN will continue to broadcast the event along with NCAA On Demand still airing on NCAA.com and CBSSports.com.  NCAA On Demand will developed and operated by Turner, who will implement enhanced digital features, allowing for the player to be available for multiple Turner and Time Warner platforms.

This news hits us just as the NCAA Division I Men’s Basketball Committee decided to expand the field of the tournament to 68 teams starting next year.  Is the expansion of networks to accommodate the new amount of teams?  Who knows.  I bet the folks at Turner are pretty giddy right now about the prospects.