Subsidized time isn’t yet upon us, but fans of David Foster Wallace’s Infinite Jest might laugh at the idea of college football conferences getting sponsored. It’s no secret that college football is not what it was a decade ago. Legalizing player compensation through name, image, and likeness (NIL), loosened rules regarding the transfer portal, and the Supreme Court allowing universities to pay players directly have turned the sport and college athletics, as a whole, on its head. With the proverbial floodgates of cash open, players, coaches, schools, and even conferences are in an arms race to find new income streams. On Thursday, one conference announced they could again make an unprecedented money move heading into next fall.
The Big 12 conference, home to solid college sports programs like Kansas State, Texas Tech, Utah, and BYU, is eyeing a ludicrous naming rights deal with Allstate that could break the bank. According to Pete Thamel of ESPN, the deal would generate hundreds of millions for the conference.
Big 12 Conference Eyeing Multi-Million Dollar Title Sponsorship: College Football Fans React
On Thursday, reports began to flood social media about the Big 12 conference looking to lock into a lucrative deal with insurance powerhouse Allstate as a title sponsor. Initial reports, including those reported by Brent McMurphy of the Action Network, indicate that the possibility of names includes “The Big Allstate Conference” and “The All State 12 Conference.” The deal would net the Big 12 between $30 million and $50 million per season, dividing the revenue between the conference’s current 16 members.
Sources: The Big 12 is exploring selling its naming right to a title sponsor, with potential revenue being hundreds of millions over the course of the deal. It would be one of the largest commercial deals in collegiate athletics history. (Not including media rights.) pic.twitter.com/bpb54ilic8
— Pete Thamel (@PeteThamel) June 13, 2024
The Big 12 could also sidestep their deal with the insurance giant, partnering with financial company CVC Capital Partners on a slightly more lucrative contract. A global private equity firm, CVC Capital Partners, would provide the league with nearly $1 billion in cash infusion for a return of 15% to 20% stake in the conference. League commissioner Brett Yormark met with the CVC Capital Partners brass earlier this year. Naturally, football fans were taken aback by the news on Thursday, with many calling out the league for selling out. Many fans took to social media, voicing their anger with the current direction of the sport.
The Big Ten and SEC expand and destroy other conferences, manipulate the CFP and revenue payouts in their favor and everyone praises them, hoots and hollers for the Power Two and jokes at how the other conferences aren’t at a similar revenue.
The Big 12 contemplates a new…
— Rick Junior (@mrrickjunior) June 13, 2024
everything is a scheme to make more money lmao nil has to be the worst thing to happen to collegiate sports
— Serb 🇷🇸 (@PlayBoiTrojan) June 13, 2024
Keep Private Equity out of college athletics.
Private equity only cares about private equity, and will suck money out of the arrangement, and leave a bloodless corpse when they’ve had their fill.
— Logan Davis (@L0ganDav1s) June 13, 2024
Yep. And if you know anything about Private Equity, they demand their return on investment. And we will all pay.
— Beware Phog (@bewarephog) June 13, 2024
When private equity firms see a Big 12 program paying for a full S&C staff, renovating their stadium and facilities instead of maximizing profit opportunities pic.twitter.com/rwGA5Kpcpx
— Ishmael Johnson (@IshmaelRJohnson) June 13, 2024
RIP Big 12. It was nice knowing you. You are signing away your life with such a deal. https://t.co/yjBKwGecyr
— Big Ten information. College football fan (@Genetics56) June 13, 2024
The MASSIVE issue I see with this, is that 20% share of the conference would sure benefit the conference for years and likely shoot its value high. The problem??? If the Big 12 ever wants full autonomy of itself in the future, it has to dig up that money somewhere to take it back
— Matt Haselhorst (@Haselhorst50169) June 13, 2024
The Big 12 is willing to sell the name of the entire conference so that each school can get $2M or $3M annually? This is the definition of poverty. Tough negotiating there. Did they throw in car insurance on the house at least? @Big12Conference https://t.co/aFU3h9Ksgk
— Dave Chauncey (@DaveChauncey) June 13, 2024
Money is destroying the game we all loved
— Penn State Talk (@PSURecruitTalk) June 13, 2024
Big 12: New Look Conference in 2024
Like most conferences, the Big 12 will present massive changes next fall. The league lost conference juggernauts Texas and Oklahoma to the SEC. The Texas Longhorns made the College Football Playoff (CFP) last season, while the Oklahoma Sooners won double-digit games and have routinely made the CFP. However, they did an admirable job replacing their losses, adding the Arizona Wildcats, Arizona State Sun Devils, Colorado Buffaloes, and Utah Utes. The league also added the UCF Knights, Houston Cougars, and BYU Cougars in 2023.
The 16-team conference enters the 2024 campaign with a substantial media rights deal with Fox and ESPN that goes through the conclusion of the 2031 season. Each school makes $31.7 million as part of the deal.
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