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Allstate 12? Big 12 in negotiations to sell naming rights

Jack PIlgrimby:Jack Pilgrim06/13/24

Is the Big 12 in good hands? That’s Allstate’s stand, the insurance company currently in talks to purchase the league’s naming rights in what would be a multi-year agreement worth tens of millions of dollars. Should a deal come together, the Allstate 12 Conference has emerged as a potential name for the league featuring Baylor, BYU, Central Florida, Cincinnati, Houston, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, Texas Tech and West Virginia.

Brett McMurphy of the Action Network was the first to report Allstate as the likely partner for the Big 12, adding that the deal could earn the league “between $30-50 million annually,” money ultimately divided among member schools. A private equity deal worth $800 million to $1 billion is on the table, as well, one that would be worth 20 percent ownership of the league.

Ross Dellenger of Yahoo! Sports is also reporting that the Big 12 would like to retain the number 12 in its name with “Big” up for grabs, confirming Allstate as the frontrunner.

And that’s not the only conference eyeing a similar revenue source, Dellenger adding that Conference USA is “deeply exploring a multi-million dollar naming rights sponsorship” with Globe Life emerging as a potential partner. That would lead to Florida International, Jacksonville State, Liberty, Louisiana Tech, Middle Tennessee, New Mexico State, Sam Houston State, UTEP and Western Kentucky now being a part of “Globe Life Conference USA” or “Globe Life Conference.”

“Conference USA officials have spent months in deep discussion about a naming rights deal, and there is wide support within the conference for such a move,” Dellenger said. “A deal could be finalized within the next year.”

These potential moves come alongside the start of the NCAA’s revenue-sharing model set to begin in the fall of 2025, schools able to share upwards of $22 million with student-athletes in capped compensation. The NCAA is also allowing schools to display corporate logos on their football fields, among other potential avenues to help offset the cost of paying players directly.

Nothing is finalized regarding name changes as any agreement would need support from league presidents and chancellors. It’s clear, though, college sports are about to look a whole heck of a lot different in the near future.

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2024-07-24