Source – The Big 12 sells naming rights to title sponsors

The Big 12 is exploring selling its naming rights to a title sponsor, with potential revenue of several million dollars over the course of the deal, sources told ESPN on Thursday.

The commercial sponsor would potentially take the “Big” name from the Big 12 and replace it with the name of the sponsor. It may end up being one of the largest commercial deals in collegiate athletics history, not including media rights.

The conference, which has been exploring the option for the past six months, has held in-depth discussions and a decision is expected in the coming months, sources told ESPN. A contract could mean millions of dollars annually for the conference’s member schools.

The Big 12 distributed nearly $470 million to its member schools in overall distributions last year, and that number will be even higher after its new media agreement takes effect in 2025-26. That could be several million dollars less per school annually than the Big Ten and SEC, prompting the league to find new revenue streams.

The Big 12 is also in talks with private equity firm CVC Capital Partners for a stake in the league of between 15% and 20%, sources confirmed to ESPN. It could give the Big 12 a cash infusion of up to $1 billion and would be the first known large-scale private equity investment in college sports.

Sources, however, have warned that the private equity piece includes some skeptics, especially among presidents. Regardless, there is a clear desire to increase revenue in the Big 12 in the near future.

“Every commercial opportunity that the commissioner is coming up with is a way to close the financial gap between the Big 12 and the SEC,” a Big 12 source told ESPN. “The Big 12’s No. 1 priority is maintaining competitiveness, and these opportunities potentially help.”

Talks between CVC Capital Partners and the Big 12 were first reported by CBS.

The Big 12 will get a new look in 2024 amid a cluttered college landscape. Texas and Oklahoma (in the SEC) will drop out of conference and join Arizona, Arizona State, Colorado and Utah in the 12 in a new 16-man lineup. Returning members from last year.