Missouri and Texas A&M to the SEC will hit ESPN in the pocketbook if the conference has anything to do with it. Because of expansion, the SEC is expected to ask for an increase in the rights fees of the current 15-year $3 billion deal.
At intervals during such contracts, conferences are allowed periodic "look ins" to address issues such as these when they expand. Typically in these cases, the parties negotiate a rights fee increase. If they can't come to an agreement the issue goes to arbitration. These situations have seldom, if ever, gone to arbitration according to several industry sources.
The SEC, ESPN and CBS are two years into the 15-year deal. Essentially by expanding to 14 teams, the SEC is entitled to more money from its TV contract. The situation seems as thought it will be a standard practice and arbitration isn't likely to be needed in this case. So basically, the SEC decides to expand and the television networks pick up a portion of the cost.