Big 12 Secures $50M NIL Basketball Event Deal
The Big 12 Conference has secured a significant $50 million NIL basketball event deal as part of a new equity partnership with the Players Era. This collaboration signals an expansion of collegiate basketball’s financial landscape and aims to enhance opportunities for student-athletes.
$50 Million Investment and Expansion Plans
The announcement was made on a Monday during the ongoing Players Era Festival. Beginning next season, the event will feature a total of 32 teams. This is a substantial increase from the 18 teams participating this year and the eight teams from last year.
Structure of the Upcoming Tournament
As part of this partnership, the Big 12 will receive eight automatic bids to the Players Era event. Each participating team will secure a guaranteed $1 million NIL payout.
- The tournament format will include four groups of eight teams.
- The first two groups will play three games during the first week.
- The remaining two groups will also play three games in the second week.
- Winners from each group will compete in the third week for the championship or third-place game.
Key Teams Involved
This year’s festival has attracted several prominent teams, including:
- No. 2 Houston
- No. 24 Kansas
- No. 16 Iowa State
- Baylor
By the 2029-2030 event season, the Big 12 representatives will be determined based on the previous year’s conference standings.
Comments from Leaders
Seth Berger, CEO of the Players Era, highlighted the partnership’s importance, stating that the Big 12 has played a crucial role in the festival’s growth. Berger noted the commitment of at least $50 million to Big 12 basketball programs over the next six years.
Big 12 Commissioner Brett Yormark expressed excitement about the expanded partnership. He emphasized the tournament as a valuable platform for showcasing the conference, its student-athletes, and coaches.
Future of the Players Era Festival
The Players Era aspires to become a premier college basketball event, akin to the NCAA tournament but held in November. Plans may include new formats and possibly games outside of Las Vegas. The rapid growth of the Players Era has already impacted other November events, limiting elite teams available for participation in other tournaments.
This partnership exemplifies how collegiate leagues are innovating to create new financial opportunities in the evolving landscape of college athletics.
