Yormark: Big 12 ‘pertinent,’ to share record $470M

May 31, 2024, 07:47 PM ET

IRVING, Texas– Big 12 schools will share in a record $470 million of earnings circulation, the conference announced Friday while wrapping up its very first spring meetings as a 14-team league and before growing by 2 more universities.While the 10 full-share members will get smaller quantities than they got in 2015 due to the fact that of the addition of the 4 schools that signed up with the league for the 2023-24 academic year, commissioner Brett Yormark said the conference is more relevant than it has ever been.” We chose stability as a conference and

we felt it was purchasing all the right ways and for all the ideal factors, “Yormark stated.”Clearly that was the ideal one for this conference as we consider where we’re going.”Editor’s Picks 2 Associated First-year members BYU, Cincinnati, Houston and UCF each will get partial

shares of about

$18 million each. That leaves about$398 million to be split among the league’s other 10 schools, consisting of Oklahoma and Texas before they move this summer to the Southeastern Conference.About$440 million was dispersed last year.The Big 12 will grow to 16 teams with the additions of Arizona, Arizona State, Colorado and Utah from the Pac-12 officially on Aug. 1.

The 4 incoming schools participated in today’s meetings, while Oklahoma and Texas did not.Yormark stated the increases came as a result of bigger College Football Playoff and bowl incomes, growth in ticket income throughout all of the championship game and sponsorship after enhancing that to be managed directly by the conference rather of using outside parties.According to tax filings launched recently, the five power conferences produced $3.55 billion in the 2022-23 , with the Big Ten reporting profits of$879.9 million compared to$852.6 million for the SEC. The ACC saw the most significant increase, going from$617 million in 2021-22 to$707 million.The Pac-12, which will see 10 of its 12 members distribute to other conferences in 2024-25, generated$603.9 million. The Big 12 was 5th at $510.7 million, which was before distributions when it was still just a 10-member league.Like the other leagues, the Huge 12 is preparing for big modifications after news of a landmark$2.8 billion settlement that will transform how athletes are compensated. The power conferences recently consented to settle a host of antitrust claims that might start guiding countless dollars straight to athletes as soon as the 2025 fall term. “I think we ended up in a reasonable and reasonable location,”Yormark said.”Undoubtedly, it’s going to be a changing landscape. However I also do see chances because changing landscape, and the work truly begins now. A lot of work to be done. I look at this as a little a reset for our market. And we’re prepared for that. The ADs, myself, the board, we have actually been discussing that reset for quite a long time. So it’s not coming as a surprise.” When he ended up being the Big 12 commissioner two summer seasons earlier, Yormark was an executive with Jay-Z’s Roc Nation and a former CEO of the NBA’s Brooklyn Nets. He invested almost 15 years with the Internet, supervising the club’s move from New Jersey and building and construction of Barclays Center, and previously was

with NASCAR, where he supervised a$750 million contract with Nextel Communications for naming rights to the circuit’s top racing series.”Given that I took this task, you understand, I said from the first day, I was open for business. And I guess you might say we’re open for service now more so than ever before, “Yormark said.”When I think about my background, I certainly do think that collegiate athletics is moving, more closely to where I came from than where we are today.”