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The Big 12 conference is exploring a naming-rights partnership that may be one of the most lucrative and unique sponsorship deals in college athletics history.
In meetings with league administrators two weeks ago in Dallas, Big 12 commissioner Brett Yormark formally introduced a concept to sell the naming rights of the conference in a deal that would be worth hundreds of millions of dollars, multiple sources tell Yahoo Sports.
Under the proposal, the conference’s name would undergo a significant alteration, prominently incorporating a sponsor’s name in the title — a common trend among bowl games, such the Capital One Orange Bowl and the Reliaquest Bowl, formerly the Outback Bowl.
The latest conversations within the conference have centered on retaining “12” in the “Big 12” name and removing “Big.” The corporate sponsor name would replace “Big” — a significant change but one expected to generate hundreds of millions of dollars
No major conference in recent college sports history has sold the exclusive rights to its name. Several corporations are expected to be involved in the process for the naming rights, most notably the Allstate insurance company. A possible new name of the league has emerged as “Allstate 12,” sources tell Yahoo Sports.
A final determination has not been made, and any agreement must gain the necessary support from the Big 12 presidents and chancellors. A Big 12 spokesperson declined to comment when reached Thursday.
The concept is a months-long endeavor spearheaded by Yormark, a former New York entertainment and talent executive who is completing his second year as conference commissioner.
In a news conference on May 31, Yormark told reporters that he has been “vetting out big ideas” with his presidents and athletic directors that would grow league revenue, but declined to reveal…
Source link : https://ca.sports.yahoo.com/news/sources-big-12-exploring-naming-rights-deal-for-conference-worth-hundreds-of-millions-155434875.html
Author : Yahoo Sports
Publish date : 2024-06-13 15:54:34
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