Big 12 will distribute record $470 million, though 10 full-share members getting little less

Stephen Hawkins, Associated Press

IRVING, Texas (AP) — Big 12 schools will stock successful a grounds $470 cardinal of gross distribution, nan convention announced Friday erstwhile wrapping up its first outpouring meetings arsenic a 14-team convention and earlier increasing by 2 much teams.

While nan 10 full-share members will get smaller amounts than they sewage past twelvemonth because of nan summation of nan 4 schools that joined nan convention for nan 2023-24 world year, Commissioner Brett Yormark said nan convention is much applicable than it has ever been.

“We went pinch stableness arsenic a convention and we felt it was investing successful each nan correct ways and for each nan correct reasons,” Yormark said. “Clearly that was nan correct 1 for this convention arsenic we deliberation astir wherever we’re going.”

First-year members BYU, Cincinnati, Houston and UCF each will get partial shares of astir $18 cardinal each. That leaves astir $398 cardinal to beryllium divided among nan league’s different 10 schools, including Oklahoma and Texas earlier they move this summertime to nan Southeastern Conference.

About $440 cardinal was distributed past year.

The Big 12 will turn to 16 teams pinch nan additions of Arizona, Arizona State, Colorado and Utah from nan Pac-12, officially connected Aug. 1. The 4 incoming schools took portion successful this week’s meetings, while Oklahoma and Texas did not.

Yormark said nan increases came arsenic a consequence of bigger College Football Playoff and vessel revenues, maturation successful summons gross crossed each of nan convention championships and sponsorship aft streamlining that will beryllium handled straight by nan convention alternatively of utilizing extracurricular parties.

According to taxation filings released past week, nan 5 powerfulness conferences generated $3.55 cardinal successful nan 2022-23 fiscal year, pinch nan Big Ten reporting gross of $879.9 cardinal compared pinch $852.6 cardinal for nan SEC. The ACC saw nan astir important increase, going from $617 cardinal successful 2021-22 to $707 million.

The Pac-12, which will spot 10 of its 12 members disperse to different conferences successful 2024-25, generated $603.9 million. The Big 12 was 5th astatine $510.7 million, which was earlier distributions erstwhile it was still only a 10-member league.

Like nan different leagues, nan Big 12 is preparing for large changes aft news of a landmark $2.8 cardinal colony that will toggle shape really athletes are compensated. The powerfulness conferences past week agreed to settee a big of antitrust claims that could commencement steering millions of dollars straight to athletes arsenic soon arsenic nan 2025 autumn semester.

“I deliberation we ended up successful a adjacent and reasonable place,” Yormark said. “Obviously, it’s going to beryllium a changing landscape. But I besides do spot opportunities successful that changing landscape, and nan activity really starts now. A batch of activity to beryllium done. I look astatine this arsenic a spot of a reset for our industry. And we’re prepared for that. The ADs, myself, nan board, we’ve been discussing that reset for rather immoderate time. So it’s not coming arsenic a surprise.”

When he became nan Big 12 commissioner 2 summers ago, Yormark was an executive pinch Jay-Z’s Roc Nation and a erstwhile CEO of nan NBA’s Brooklyn Nets. He spent almost 15 years pinch nan Nets, overseeing nan club’s move from New Jersey and building of nan Barclays Center, and antecedently was pinch NASCAR, wherever he oversaw a $750 cardinal statement pinch Nextel Communications for naming authorities to nan circuit’s apical racing series.

“Since I took this job, you know, I said from time one, I was unfastened for business. And I conjecture you could opportunity we’re unfastened for business now much truthful than ever before,” Yormark said. “When I deliberation astir my background, I surely do judge that collegiate athletics is shifting, much intimately to wherever I came from than wherever we are today.”

Unlike erstwhile he first sewage to nan Big 12, “open for business” this clip isn’t a reference to immoderate further description plans.

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