The Big 12 Conference is exploring a lucrative rebrand that would include selling the conference’s naming rights to a title sponsor that would net hundreds of millions of dollars over the course of the deal, according to several national reports.
News also broke Thursday that the league is looking into the viability of a private equity investment as well.
These two moves showcase the out-of-the-box thinking commissioner Brett Yormark is bringing to the table as the conference tries to close the ever-widening financial gap with the SEC and Big Ten, which have far more lucrative media rights deals than the Big 12.

What could the Big 12 Conference be rebranded to?
The Big 12 will soon expand to 16 teams with Utah, Arizona, Arizona State and Colorado joining the league on Aug. 1, one month after Texas and Oklahoma move on to the SEC on July 1.
The league is looking to drop the “Big” from its name but retain the “12,” with the corporate sponsor name replacing “Big,” according to Yahoo Sports’ Ross Dellenger. The concept of selling the conference’s naming rights was introduced to league administrators by Yormark two weeks ago during meetings in Dallas, Dellenger reported.
The Big 12 and Allstate are reportedly in discussions, as first reported by Action Network’s Brett McMurphy, about selling the conference’s naming rights to the insurance company. Possible names for the league include “The Big Allstate Conference” or “The Allstate 12 Conference,” per McMurphy.
The conference is also exploring the option of teaming with a financial company for its naming rights, according to McMurphy, a deal that “would pay the league slightly more than Allstate.”
How much money could Big 12 teams receive through a conference corporate sponsorship?
A multi-year deal with Allstate could net the conference between $30-$50 million annually, with that revenue to be divided amongst the 16 league members, McMurphy reported.
If that deal comes to fruition, member schools could receive anywhere from $1.875 million to $3.125 million per year.
When could a deal get done, and implemented, for the Big 12 to sell its naming rights?
ESPN’s Pete Thamel reported that the Big 12 has explored selling the naming rights for the past six months, and a decision is expected to happen “in the upcoming months.”
With things like signage, field logos and other items needing to be changed, it’s “unknown” if a sponsorship deal could be completed before the 2024 season, McMurphy reported.
Another potential issue — the NCAA recently made the decision to allow corporate logos on the field, a move that “could reduce the value of a naming rights deal,” according to McMurphy.
Is the Big 12 exploring a private equity investment?
Not long before news hit social media about the possibility of the Big 12 selling its naming rights, CBS Sports’ Dennis Dodd reported that the league is also exploring a private equity investment with Luxembourg-based CVC Capital Partners.
The investment would reportedly bring the Big 12 a cash infusion of between $800 million to $1 billion from CVC in exchange for a 15% to 20% stake in the league, per Dodd.
It would be the first known large-scale private equity investment in collegiate athletics.
Both CBS Sports and ESPN reported there are skeptics of the plan, particularly among league presidents. Still, the conference has formed a working group of three Big 12 presidents to examine a potential private equity investment, according to Dodd.
“Every commercial opportunity the commissioner is bringing is a way to close the financial gap between the Big 12 and SEC,” a Big 12 source told ESPN. “The No. 1 priority of the Big 12 is maintaining competitiveness, and these opportunities potentially help.”
When could a private equity investment deal for the Big 12 be reached?
Dodd reported it’s unclear when a deal might be reached — and when money could start coming in for the conference — if the Big 12 and CVC come to an agreement.
Another important aspect to consider in this would be the league’s grant of rights — the Big 12′s media rights deal runs through 2031.
Any sort of investment may require “some sort of assurance for CVC” that a new grant of rights deal be signed in 2031, according to Dodd, to help ensure the conference stays together long term.
What financial factors are driving these discussions?
The Big 12′s current media rights deal is worth $2.3 billion, according to CBS Sports, and each team earns $31.7 million each from the agreement with Fox and ESPN.
By comparison, schools in the Big Ten, which has the most lucrative media rights deal in college sports, will earn approximately $75 million per year as part of their agreement with Fox, CBS and NBC, per CBS Sports.
The gap between the Big Ten and SEC from the other autonomous conferences, the ACC and Big 12, also extends to the new payouts from the expanded College Football Playoff.
Through the new 12-team CFP, the Big 12 is set to make $12 million per team each year, fourth among power leagues, while Big Ten and SEC teams will be paid $21 million each year, according to CBS Sports.
On top of that, a new revenue-sharing model will soon impact college sports.
As part of a recent settlement involving three lawsuits against the NCAA, beginning in fall 2025, schools in power conferences are permitted to share potentially as much as $22 million with their athletes each year.