The Big 12 could possibly undergo a name change, with the collegiate conference currently discussing a deal to sell its naming rights to Allstate.
The league is also considering another financial company for a partnership that would pay them more than Allstate; however, the insurance firm is understood to be the frontrunner.
That is according to Action Network, which cites sources noting that the “Allstate 12 Conference” is the leading name choice. The “Big Allstate Conference” is also among the names being discussed.
The publication reports that the multi-year deal currently under negotiation would pay the league $30-$50 million a year to be split among the Big 12’s 16 members.
League sources insist nothing is confirmed yet.
It is not uncommon for stadiums and bowl games to sell naming rights. But, should the Big 12’s deal go through, it would mark the first time the rights for a professional or collegiate league were acquired.
It is still unknown whether the deal will be in place before the start of the 2024 season, especially considering the time it would take to change signs, field logos, and other items.
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There is also some concern over the NCAA’s recent decision to allow corporate logos on the field, as it could potentially decrease the value of a naming rights deal.
The Big 12 Is Also Considering An Equity Investment Deal
The Big 12 is also exploring a private equity investment deal worth a reported $800 million – $1 billion for 20 percent ownership.
League commissioner Brett Yomark did not respond to a request for comment but spoke to the importance of finding additional revenue streams while at the conference’s spring meetings in Texas.
“When I think about my background, I certainly do believe that collegiate athletics is shifting, more closely to where I came from than where we are today,” he said.
“Obviously, it’s going to be a changing landscape. But I also do see opportunities in that changing landscape, and the work really starts now. A lot of work to be done. I look at this as a bit of a reset for our industry. And we’re prepared for that.”
According to sources, most of the 10 FBS conferences are looking into naming rights deals in a bid to attract more revenue.
