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Big 12’s ‘Allstate’ plan
Conference exploring a naming rights deal with Allstate, plus a private equity plan. Also, Terrence Shannon Jr. found not guilty, Grand Canyon lands a notable recruit, and much more.
Tristan Freeman
June 14, 2024
Good morning, and happy Friday. Hope you’re ready a brave new world where everything’s sponsored.
Let's get to Thursday’s news.
1. Is the Big 12 in good hands?
Knowing it’s behind the Big Ten and SEC in revenue generation, Big 12 commissioner Brett Yormark hasn’t shied away from new ways for the league to bridge that gap. Two emerged on Thursday.
The first was a long-time coming.
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 actionnetwork.com/ncaaf/big-12-c…
— Brett McMurphy (@Brett_McMurphy)
4:48 PM • Jun 13, 2024
If the Big 12 becomes The “Allstate 12” or the “Big Allstate Conference,” the $30-50 million in new revenue would be distributed to schools and effectively be a version of a TV contract. Conference USA reportedly could be doing the same with Global Life.
Selling league naming rights is something English Premier League soccer has done for years, but it’s not as common in the U.S. League generally have several “official” sponsors rather than one overarching presenting sponsor.
Would it be strange to have an Allstate conference? Sure. But conference have always adjusted their names (the CAA did so last year) depending on branding or membership. It’s mostly a question of if other power conferences will follow suit with a presenting sponsorship opportunity — especially with the looming House v. NCAA settlement needs.
The other significant money news for the league?
The Big 12 reportedly is exploring the idea of private equity investment, which would would bring as much as $1 billion to the league for a 20% stake of ownership. From CBS Sports:
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.
CVC is a global private equity giant that manages over $200 billion in investments worldwide, according to its website. The firm made a presentation to the league at the recent Big 12 spring meetings in Dallas.
While one source described the talks as "pretty serious," many league presidents need further convincing. Persons who spoke with CBS Sports preferred to remain anonymous due to the sensitive nature of the discussions.
A private equity investment would be a significant move for the Big 12 (or any other league). It would be an acknowledgement of the league’s long-term growth potential. Florida State’s already partnered with a private equity firms, and several professional franchises have done the same.
2. Terrence Shannon Jr. found not guilty
A jury found Illinois guard Terrence Shannon Jr. not guilty of felony rape and aggravated assault Thursday.
The decision from Douglas County (Kan.) was unanimous.