The Arizona State Sun Devils could be moving to something other than “the Big 12 Conference” next season.
Thank you for reading this post, don't forget to subscribe!According to Action Network’s Brett McMurphy, the Big 12 and Allstate are discussing a multi-year deal that would make the Big 12 the first professional or collegiate league to sell its naming rights.
McMurphy writes:
“Name possibilities for the Big 12 include “The Big Allstate Conference” or the “The Allstate 12 Conference,” sources said. The multi-year deal could earn the league between $30-$50 million annually to be divided among its 16 league members, sources said.”
“It’s unknown if a deal could be completed to begin for the 2024 season, with the required amount of time to make changes in signage, field logos and other items,” McMurphy adds.
Big 12 in discussions w/Allstate on a naming rights deal to change league's name, sources told @ActionNetworkHQ. Deal could be worth b/w $30-$50 million annually & name possibilities include Big Allstate Conference or Allstate 12 Conference, sources said https://t.co/Cv22vjhBSx
— Brett McMurphy (@Brett_McMurphy) June 13, 2024
CBS Sports’ Dennis Dodd reports that the league is also considering a first-of-its kind private equity investment.
“On the table is a possible cash infusion of $800 million to $1 billion from Luxembourg-based CVC Capital Partners in exchange for a 15% to 20% stake in the league, those sources said. A portion of the money would go directly to the 16 conference members, and the partnership would give the conference access to CVC’s investment services and clients.”
Breaking: Big 12 considering private equity investment of up to $1 billion for as much as 20% of conference – https://t.co/Do0GY2YbwU https://t.co/bWvzLzspZJ
— Dennis Dodd (@dennisdoddcbs) June 13, 2024
Yahoo Sports’ Ross Dellenger wrote that the naming rights idea was proposed by Big 12 commissioner Brett Yormark a couple weeks ago:
“In meetings with league administrators two weeks ago in Dallas, Big 12 commissioner Brett Yormark formally introduced a concept to sell the naming rights of the conference in a deal that would be worth hundreds of millions of dollars, multiple sources tell Yahoo Sports.”
As @dennisdoddcbs reported earlier, the Big 12 is *also* exploring a multi-million dollar private equity deal, as are many individual athletic departments across the country.
Support within the league for the Big 12’s P-E proposal is unclear at this timehttps://t.co/OnTFWFFzDI
— Ross Dellenger (@RossDellenger) June 13, 2024
Bowl games have long had sponsors that add to their revenue, such as the Vrbo Fiesta Bowl, Guaranteed Rate Bowl and Snoop Dog Arizona Bowl presented by Gin & Juice by Dre and Snoop in Arizona. ASU also sold the naming rights of its stadium to change it from Sun Devil Stadium to Mountain America Stadium last fall.
Similarly, this conference naming rights deal could be big in increasing the total value of the Big 12’s schools. Currently, the league is last among the Power Four conference in average annual value for its schools behind the Big Ten, SEC and ACC.
However, as McMurphy reports: “A private equity deal and/or naming rights deal would solidify the Big 12 with the third-most revenue behind the Big Ten and the SEC and ahead of the ACC.”
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Brendan Mau is a senior writer covering the Phoenix Suns and more for Burn City Sports. You can follow him on X via @Brendan_Mau
