ESPN won't increase its current bid to televise the NCAA Tournament, the Sports Business Journal reported Friday.

The 14-year deal averaging $840 million per year that has been offered by CBS and Turner Broadcasting trumps ESPN's offer. The Sports Business Journal cited several sources "with direct knowledge of the talks."

The NCAA must decide whether to continue with the final three years of its original 11-year, $6 billion deal with CBS for the 65-team tournament.

The final three years of the backloaded deal are valued at $2.131 billion, a little more than $700 million per year.