How is the year going so far ???

I have a question about storing and archiving media. Not sure this is the right forum for this, but thought I would start here. I’ll probably post this on the news/chief photog forum as well.

I think it’s a simple question, but I really know it’s not.

A little background…

We shoot P2 on Panny 3100G, edit on Premeiere CS5 and CS6, depending on the edit system you are cutting on.
We shoot primarily on the AVC Intra 50 format to optimize card space.

About 2 years ago we started shooting sports full time. I follow our local college on the road for Football and Basketball. We had been doing well with the storage in the computers we edit on. We have about 5 TB on each edit system.

Now we are to the point where we are running out of space on the edit systems and are looking to options for long term storage.

Our Engineering dept has procured 10 TB shared storage system, but we are looking for ways to maximize space.

I know we need to melt things down and not keep whole games on the systems, but is there a way to keep the metadata intact while making smaller files??

Do I want to compress everything or physically pare down all of the games down??
Which format/codec for compression? Now we use MP4 and if I need a small file size I use a YouTube codec.

Any thoughts would be appreciated.

Thanks as always.

Hess