Whether fans are ready for it or not, the Big 12 Conference might be about to become a thing of the past.
The Athletic reported on June 14 that Illinois-based insurance company Allstate is the leader to obtain the naming rights to the Big 12 Conference. It would be a groundbreaking deal that could be worth hundreds of millions and would likely change the name of the league to the Allstate 12 Conference.
The Athletic also reported that the Big 12 is exploring a private equity investment that would give CVC Capital Partners, a Luxembourg-based investment firm, a 15-20 percent ownership stake in the Big 12 that would cost up to $1 billion.
The moves would put the Big 12 on a financial level — or close the gap — with the other three remaining power conferences in the SEC, Big Ten and ACC.
The Big 12 is expanding to 16 teams in 2024 with the addition of former Pac-12 Conference teams Arizona, Arizona State, Colorado and Utah, which follows the exit of longtime Big 12 mainstays Oklahoma and Texas to the SEC.