When KFVE/KHNL and Oceanic Time Warner Cable announced a $14.52 million, six-year deal for local University of Hawai'i television rights yesterday, one of the first questions in the press conference was:

"Will you be able to pay your anchors (now)?"

Howard Dashefsky, the KHNL anchor who posed it, was joking.

We think.

But his question underlined the surprise in the room at the weight of the figures being tossed around in a down-turned economy. At a time when we're told local TV advertising is off 10 percent or more, Oceanic and KFVE/KHNL's 30-percent raise in annual rights fees is not only a heavy bet on UH sports, but a considerable investment in it.

That's quite a salesmanship coup for UH, which was able to sell its partners on continued success in the athletic program in general and football, the engine that drives the 19-sport department, in particular.

New athletic director Jim Donovan and associate athletic director John McNamara were able to enlist them in the vision of "growing the product" at a time when it has become a necessity for UH. It is a vision Donovan has been preaching to anyone who will listen — and, now, some influential folks have.

This after a school-best 12-1 football season and heading into one of its toughest schedules in a challenging economic climate.

Indeed, Oceanic president Nate Smith noted "part of the reason of giving them a bigger base is we're only as good as what they produce, so, really, it is an investment for us. UH needs the means to grow."

The extra $550,000 per year UH is guaranteed won't end the Warriors' red-ink forecast, which was pegged to hit $1.5 million in the upcoming fiscal year before the TV deal, much less suddenly elevate the school to the ranks of well-heeled. But it is a significant step in the right direction. A down payment on the future, if you will. And UH can earn more if pay-per-view revenues reach various benchmarks and if emerging digital technologies can be made profitable.

Donovan heralded it as, "I believe, one of the most lucrative local television packages in the country." For sure it looks to be the most extensive.

Still to be finalized, now that TV negotiations are complete, is radio, where UH also hopes to raise the ante on the three-year, $1 million contract that is expiring.

On their way out of the room at the completion of the press conference, Donovan stopped his bankrollers at the door to shake hands and elusively thank them again.

But, then, under the terms of the new contract, he had a few more million reasons to do so.

Reach Ferd Lewis at flewis@honoluluadvertiser.com or 525-8044.