I answered the question in this post. Its not uncommon for ESPN to sell back third tier rights to other networks, but keep the markets they want. Its also not uncommon for conferences like the MAC or the Sun Belt to bundle their packages with ESPN today. So the question is not why did Scott Farmer do it in the first place, but why he didn't know that he was entering an agreement that would limit the program to what it could do with its own third tier rights?
"ESPN owns the third-tier rights of the SBC, so they don't have to agree to any negotiation with CST for markets they are not willing to give up. So perhaps they are willing to agree with or allow another party to broadcast in those markets? I don't know the answer to that question, but when it was first discussed talk was into the Florida markets and other areas west of Texas. It could be that ESPN is willing to sell back the rights to CST in those areas. If CST thinks it would be financially reasonable to do so."