Eric Boggs 
Big XII Conference Plans Major Financial Moves.
The Big 12 Conference might soon have a new name. To increase its financial standing, the conference is considering a private equity investment worth up to $1 billion and selling naming rights to a title sponsor, potentially earning $50 million annually. These discussions were first reported by CBS Sports and Yahoo! Sports.
The Big 12 is in advanced talks with insurance company Allstate, known for its college football sponsorships. Instead of simply adding Allstate to the conference name, Allstate might replace “Big” or “12,” resulting in “Allstate 12” or “Big Allstate,” according to the Action Network.
Commissioner Brett Yormark introduced this idea to league administrators two weeks ago. Any name change needs approval from the presidents and chancellors of the conference’s member schools.
Next year, the Big 12 will expand to 16 teams, adding Colorado, Arizona, Arizona State, and Utah from the defunct Pac-12. Recently, the Big 12 added BYU, Cincinnati, UCF, and Houston while losing Oklahoma and Texas to the SEC.
Yormark is also leading the private equity discussions, as reported by CBS Sports. The conference is negotiating with CVC Capital Partners to sell a 15-20% stake for $800 million to $1 billion. Yormark has shown support for private equity in college sports, viewing it as a sign of industry growth.
However, any sale would need approval from the Big 12’s member schools, and some leaders still need convincing, according to CBS.
No conference has ever approved a naming rights sponsorship deal or private equity investment before. Yet, many schools and conferences are exploring new revenue streams, especially after a recent court ruling allows college athletes to receive direct payments from their schools.
Currently, Big 12 schools earn $31.7 million annually from media rights partners, including FOX Sports.
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