Big 12 could sell conference naming rights as Brett Yormark looks to increase revenue
The Big 12 Conference may soon have a new name, and an infusion of corporate money to go along with it.
Big 12 commissioner Brett Yormark is reportedly exploring the possibility of selling the league’s naming rights to a title sponsor, according to ESPN college football insider Pete Thamel. If a deal is made, it could potentially bring in hundreds of millions for the conference.
Brett McMurphy of Action Network reported that insurance company Allstate is in talks with the Big 12 about such a deal, in which the Big 12 could be renamed “The Big Allstate Conference” or “The Allstate 12 Conference.” McMurphy reported, through unnamed sources, the league could earn between $30 million and $50 million annually on a naming deal.
Naming a college athletic conference after a corporation, as if it were an NFL stadium or NBA arena, was once thought to be ludicrous or even off limits. But it is now seen as a creative idea for a league like the Big 12 to generate new sources of revenue as it tries to compete with the Big Ten and SEC.
After the latest round of conference realignment, the Big Ten and SEC are earning significantly more money than their peers. Perhaps an outside-the-box move like this would allow the Big 12 to close the gap and distance itself from the ACC in the pecking order of the new Power Four conferences.
The Big 12 recently announced that it will distribute a record $470 million to its members for the 2023-24 athletic year.
It is unclear how that number will fluctuate next year with Oklahoma and Texas heading to the SEC while Arizona, Arizona State, Colorado and Utah are coming aboard the Big 12. Perhaps selling conference naming rights could make it increase.
Yormark, along with Big 12 presidents and athletic directors, have reportedly held in-depth discussions about selling the naming rights to their conference and could make a decision on the topic in the coming weeks.
It is impossible to say how many companies will be interesting in bidding on the Big 12’s naming rights, but companies like Whataburger, Phillips 66, Dr Pepper, Allstate, Old Trapper, Sonic Hard Seltzer, Sprouts Farmers Market and Bathing Ape have advertised with the conference before.
Fans have already taken to social media to share their thoughts on which of those companies, and others, might make sense for the Big 12.
There is a thought that the Big 12 will replace the word “Big” in its name with a corporate sponsor and leave the 12. Only time will tell how this shakes out, but the Big 12 as we know it may go by a new name in the near future.