People are all familiar with college football bowl games having sponsors — like the Allstate Sugar Bowl or the Cheez-It Citrus Bowl. Now, reports indicate a naming rights partnership might be on the way not for another game, but for the Big 12 conference.

This would be the first of ideal of its kind and reportedly worth hundreds of millions of dollars.

Reports say the conference would drop “Big” from its name and keep the “12,” and with the Allstate insurance company being the current frontrunner as a potential sponsor, the conference could end up being called “the Allstate 12” conference. 

Talks are ongoing, as this upcoming season, the Big 12 will see more teams joining the conference — creating a 16-member league. 

Sources tell multiple outlets that the league is also considering an $800 million to $1 billion investment from Luxembourg-based CVC Capital Partners for a 15% to 20% stake. The investment would benefit the 16 conference members directly and provide access to CVC’s investment services and clients.

CVC, a global private equity firm managing over $200 billion, recently presented its proposal at the Big 12 spring meetings in Dallas.

Sources: The Big 12 is exploring selling its naming right to a title sponsor, with potential revenue being hundreds of millions over the course of the deal. It would be one of the largest commercial deals in collegiate athletics history. (Not including media rights.) pic.twitter.com/bpb54ilic8

— Pete Thamel (@PeteThamel) June 13, 2024

Currently, Big 12 teams each earn $31.7 million annually from a media rights deal with Fox and ESPN that extends until 2031. Combined with the potential private equity investment, these revenues could position the Big 12 much closer to the Big Ten’s earnings, a source familiar with the proposal said.

The Big Ten sets the standard, with its schools expected to make about $75 million each per year following a new media rights agreement with Fox, CBS and NBC.