"This is getting out of control": CFB world reacts to Big 12 name change after Allstate emerges as new title sponsor for FBS powerhouse

The Big 12 is reportedly considering selling its naming rights to a title sponsor, a move that will be first-of-its-kind in the world of collegiate athletics. The corporate sponsorship could generate hundreds of millions of dollars in added revenue for the conference if it's sealed.

The sponsorship is expected to potentially replace the word "Big" in "Big 12" with its own name, giving the conference brand a whole new identity. The deal, if it becomes successful, will be one of the largest commercial deals in collegiate athletics history, excluding media rights.

The news on Thursday afternoon has resulted in a series of reactions from college sports fans. The fact that every aspect of collegiate athletics is getting commercialized doesn’t sit well with many fans and enthusiasts.

Here’s a look at some of the online reactions.

The Big 12 wants to stay financially competitive

Over the years, the Big 12 has lagged behind the Big Ten and Southeastern Conference in college sports. The conference can’t generate as much revenue as its Power Five counterparts. Nonetheless, the league wants to stay competitive financially.

To bridge this gap and ensure competitive balance, commissioner Brett Yormark is seeking funds through unconventional means. This strategy has led the conference leadership to explore new revenue sources to keep its members financially stable.

The Big 12 is also in discussions with private equity firm CVC Capital Partners regarding a potential 15% to 20% stake in the league. This deal could provide the conference with up to a $1 billion cash infusion, marking the first known private equity investment in college sports.

Brett Yormark and the conference leadership are exploring several avenues in which more money can be brought into the conference. They recognize the need to stay competitive financially as a conference, especially with the strength of the SEC and the Big Ten, and will work actively toward achieving that.

Allstate a potential sponsor for the Big 12

With the report of the Big 12 exploring the possibility of selling its naming rights, there are already rumors of a potential sponsor. Allstate is considered the frontrunner for the sponsorship, with the potential new conference name becoming the Allstate 12 Conference.

The insurance company isn’t new to sponsorship within the collegiate athletic landscape. It sponsors the Sugar Bowl, one of college football's most reputable bowl games. It also holds the naming rights to the arena used by Northwestern basketball in Chicago.