In a bid to secure additional revenue, the Big 12 conference is reportedly considering selling its naming rights to a title sponsor. According to sources, this commercial deal has the potential to generate hundreds of millions of dollars over the course of the agreement, making it one of the largest commercial deals in collegiate athletics history.

As part of the deal, the sponsor would replace the name "Big" with its own, effectively rebranding the conference. Discussions on this matter have been ongoing for the past six months, with in-depth talks taking place. A decision on the potential deal is expected in the coming months, sources claim.

If the agreement is successfully reached, member schools of the Big 12 could see a significant boost in their annual revenue. Last year, the conference distributed nearly $470 million to its member schools. However, this number is projected to be lower than that of schools in the Big Ten and SEC due to the new media deal set to take effect in 2025-26. The search for new revenue streams has become a top priority for the Big 12 in order to close the financial gap.

In addition to exploring the naming rights deal, the Big 12 has reportedly engaged in discussions with private equity firm CVC Capital Partners. Sources have confirmed that the discussions involve the firm acquiring a stake of 15% to 20% in the conference. This move would provide the Big 12 with a significant cash infusion, potentially reaching up to $1 billion. It would also mark a groundbreaking development, as it would be the first large-scale private equity investment in college sports.

However, there are concerns among some individuals, particularly among presidents, about this potential investment. Despite the skepticism, there is a clear determination within the Big 12 to ramp up revenue in the near future. A Big 12 source affirmed that every commercial opportunity presented by the commissioner is aimed at closing the financial gap between their conference and the SEC, emphasizing the importance of maintaining competitiveness.

Reports of the discussions between CVC Capital Partners and the Big 12 first emerged from CBS. These talks come at a time when the Big 12 is set to undergo significant changes in its composition. Notably, conference stalwarts Texas and Oklahoma will be leaving for the SEC in 2024. As a result, a new lineup of 16 members, including the additions of Arizona, Arizona State, Colorado, and Utah, will be in place.

The potential sale of naming rights and the discussions with CVC Capital Partners mark important steps for the Big 12 in its pursuit of financial stability and continued competitiveness. As the landscape of college sports continues to evolve, generating additional revenue has become crucial for conferences to ensure their long-term viability and success.