ESPN has agreed to a massive new television rights deal with the NCAA worth more than $115 million per year, the company announced Thursday. 

The eight-year deal is nearly triple the value of the current 14-year contract that pays $40 million per year. On top of that, an additional 25%, or $28.75 million per year, will go towards production and marketing costs, per a spokesperson.

The deal goes into effect on September 1 and runs through 2032. It grants ESPN the television rights to 40 NCAA championship events, including 21 women’s and 19 men’s events. It also includes all playoff rounds of women’s basketball, women’s volleyball, women’s gymnastics, baseball, softball and FCS division football. 

Women’s sports are a significant part of the deal, with roughly 57% of the contract’s value is tied to women’s college basketball alone, according to reports. 

The increase in contract value is expected to lead the NCAA to improve aspects of its women’s tournaments, including the facilities at the women’s basketball tournament which went viral last year for being significantly underfunded compared to the men’s tournament. 

“Concurrent with the terms of the new media rights, several enhancements to student-athlete benefits across all three NCAA divisions will take effect, and this deal will help fund those important programs,” said Linda Livingstone, chair of the NCAA Board of Governors and Baylor University president. 

“The national, integrated platform the family of ESPN networks provides will help grow the visibility of many NCAA sports, particularly for our women student-athletes.”