Big 12 Explores $1 Billion Private Equity Investment, $30-$50 Million Naming Rights Deal

Jun 13, 2024, 04:17 PM

The Big 12 Conference is considering a private equity investment of up to $1 billion for as much as 20% of the conference. Additionally, the conference is exploring selling its naming rights to a title sponsor, which could generate hundreds of millions in revenue over the course of the deal. This initiative, proposed by Big 12 commissioner Brett Yormark in May, aims to close the competitive gap with the Big Ten and SEC. The potential deal with private equity firm CVC Capital Partners and the sale of naming rights are still in exploratory stages. Sources indicate that the naming rights deal could be worth between $30-$50 million annually, with possible names including the Big Allstate Conference or Allstate 12 Conference. This move could place the Big 12 on equal financial footing with other major collegiate conferences.