How much will Brett Yormark's FBS powerhouse make after Big 12 name change? Taking a closer look at latest decision

Reports on Thursday suggested that the Big 12 is exploring the possibility of selling its naming rights to a title sponsor. This potentially first-of-its-kind deal in the landscape of college athletics is expected to generate the league hundreds of millions of dollars. Here’s a look at how much the conference is likely to generate from a potential deal for its naming rights.

Big 12 to close $50 million deal with Allstate

The Big 12 is reportedly in discussions with a private sponsor to sell the naming rights of its conference, with a potential annual payout of $30-50 million. This will be another source of revenue for the conference in its bid to stay competitive in the college athletics landscape.

According to college football insider Brett McMurphy, the potential sponsor for the naming rights is Allstate. The insurance company is currently considered the frontrunner for the sponsorship, with the potential new conference name becoming 'Allstate 12'.

Allstate is well-versed in collegiate athletics sponsorships. The company currently sponsors the Sugar Bowl, one of the most esteemed bowl games in college football.

It also holds the naming rights to the arena where Northwestern basketball plays its home games in Chicago.

While the discussion with Allstate is reported to be intensifying, It remains uncertain whether a deal could be finalized in time for the 2024 college football season. This is given the time needed to update filed logos and other items concerning the brand.

The need for Big 12 to stay competitive

The Big 12 has fallen behind the Big Ten and Southeastern Conference in college sports, struggling to generate as much revenue as those two.

This has been made worse by the exit of Texas and Oklahoma. Despite all this, the league aims to remain financially competitive in the evolving landscape.

The leadership of the conference is pursuing unconventional funding strategies in a bid to bridge the gap between them and the 'Power Two', ensuring competitive balance.

Brett Yornark made it clear in his first Media Days that the conference is opening for business and this has become evident.

Aside from the naming rights deal, the Big 12 is also in discussions with private equity firm CVC Capital Partners about a potential 15% to 20% stake in the league.

This deal could inject up to $1 billion into the conference, marking the first significant private equity investment in the world of college athletics.