Big 12 Secures $50M NIL Deal for Players Era Festival Bids

UPDATE: The Big 12 Conference has just announced a groundbreaking $50 million equity partnership with the Players Era Festival, ensuring eight automatic bids for its teams in this premier college basketball event. This significant deal was revealed on Monday, coinciding with the tournament’s opening day in Las Vegas.

This partnership guarantees every participant a minimum of $1 million in NIL (Name, Image, Likeness) payouts, marking a transformative era for college sports. Beginning next season and running through the 2029-2030 event, the Big 12 will have access to one of college basketball’s most prestigious platforms, with the festival set to expand to 32 teams by 2026.

This year’s Players Era features an impressive lineup, including top-ranked teams such as No. 2 Houston, No. 24 Kansas, No. 16 Iowa State, and Baylor, alongside a total of nine top-25 programs. Had the agreement been initiated for this season, teams like Texas Tech, Arizona, and BYU would also have benefitted from this historic partnership.

“The Big 12 Conference continues to lead collegiate athletics’ movement into a new landscape, and we are incredibly proud to enter into this partnership,” said Seth Berger, CEO of the Players Era Festival. “The conference has been instrumental to our growth from day one. The Big 12 now receives guaranteed access to the biggest college basketball event outside of March, benefiting both perennial powers and teams with national championship aspirations.”

This lucrative deal indicates new financial streams for college leagues amidst the evolving landscape of collegiate athletics. The Players Era aims to mimic the NCAA tournament atmosphere in November, featuring the top teams across the nation. Further developments could include new formats and potential games held outside of Las Vegas, expanding the reach and impact of the event.

Big 12 Commissioner Brett Yormark expressed his excitement about the partnership, stating, “The tournament is a tremendous platform to showcase our conference, student-athletes, and coaches as the best in college basketball. We look forward to making Players Era a national marquee event.”

Since the 2013-14 season, the Big 12 has consistently ranked among the top conferences, finishing first or second in KenPom’s rankings for 11 out of the last 12 years. With this partnership, the Big 12 solidifies its position at the forefront of collegiate athletics, ensuring significant financial investments in its basketball programs.

As the Players Era Festival develops, the expansion will create challenges for other events in the college basketball calendar, limiting the availability of elite teams. The impact of this partnership is expected to resonate throughout the sport, as it pushes the boundaries of what is possible in college athletics.

Stay tuned for more updates on this evolving story as the Big 12 and Players Era Festival redefine the future of college basketball.