BREAKING: The Big 12 Conference has just secured a groundbreaking $50 million equity partnership with the Players Era Festival, marking an exciting new chapter in college basketball. This deal guarantees the Big 12 eight automatic bids to the highly anticipated tournament, which is set to showcase top-tier talent and boost the financial landscape for participating schools.
Announced on Monday, the first day of the tournament, this partnership ensures that each player will receive a minimum NIL payout of $1 million. The festival is expanding its format, planning to feature 32 teams by 2026, positioning itself as a premier event in collegiate sports, second only to March Madness.
In this year’s lineup, key teams include No. 2 Houston, No. 24 Kansas, No. 16 Iowa State, and Baylor, among others. This year’s event boasts a total of nine top-25 programs, showcasing the depth and competitiveness of college basketball. The teams participating from the Big 12 will be selected based on their conference standings from the previous season.
If the agreement had been active this season, the Big 12 would have had Houston, Texas Tech, Arizona, BYU, Iowa State, Kansas, Baylor, and West Virginia competing. The implications of this deal extend beyond just financial benefits; it positions the Big 12 as a leader in collegiate athletics as they adapt to the evolving landscape of sports revenue.
“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, which will benefit perennial powers and teams with national championship aspirations.”
The partnership is not only about immediate financial gains; it highlights how conferences are innovating to create new revenue streams in the current landscape. Over the next six years, the Players Era will commit no less than $50 million to support Big 12 basketball programs through rights fees.
The Big 12 has consistently excelled in collegiate basketball, finishing first or second in KenPom’s conference rankings 11 out of the last 12 seasons. This new partnership is poised to enhance that success further, providing a platform for showcasing the conference’s top talent.
Looking ahead, the Players Era Festival aims to evolve into an NCAA tournament-like event, potentially introducing new formats and expanding beyond Las Vegas in the future. This ambition reflects the growing influence of the Players Era, which has already begun to impact other Feast Week events due to its rapid growth and generous payouts.
“The Big 12 Conference is thrilled to grow its partnership with Players Era,” stated Brett Yormark, Big 12 Commissioner. “The tournament is a tremendous platform to showcase our conference, student-athletes, and coaches as the best in college basketball. We look forward to continuing to make Players Era a national marquee event.”
As this partnership unfolds, all eyes will be on the Big 12 and the Players Era Festival as they redefine the future of college basketball. Fans and stakeholders alike are eager to see how this landmark agreement will shape the landscape of collegiate sports in the coming years. Stay tuned for further updates on this developing story.
