Sources: Big 12 mulls windfall for naming rights
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Pete Thamel, ESPN
The Big 12 is exploring selling its naming rights to a title sponsor, with potential revenue of hundreds of millions of dollars over the course of the deal, sources told ESPN on Thursday.
The commercial sponsor would potentially take the name “Big” out of Big 12 and replace it with the sponsor’s name. It could end up as one of the largest commercial deals in collegiate athletics history, not including media rights.
The conference, which has explored this option for the past six months, has had in-depth discussions and a decision is expected in the upcoming months, sources told ESPN. A deal could mean millions of dollars annually for the conference’s member schools.
The Big 12 distributed nearly $470 million to its member schools in overall distribution last year, and that number projects to be higher once its new media deal comes to fruition in 2025-26. That projects to be tens of millions of dollars less per school annually than those in the Big Ten and SEC, prompting the league to find new revenue streams.
The Big 12 has also been in discussions with private equity firm CVC Capital Partners for a stake in the league between 15% to 20%, sources confirmed to ESPN. That could give the Big 12 up to a $1 billion cash infusion and would be the first known large-scale private equity investment in college sports.
Sources, however, cautioned that the private equity pieces include some skeptics, especially among presidents. Regardless, there is a clear desire to boost revenue in the Big 12 in the near future.
“Every commercial opportunity the commissioner is bringing is a way to close the financial gap between the Big 12 and SEC,” a Big 12 source told ESPN. “The No. 1 priority of the Big 12 is maintaining competitiveness, and these opportunities potentially help.”
Discussions between CVC Capital Partners and the Big 12 were first reported by CBS.
The Big 12 will have a new look amid the shuffled college landscape in 2024. Gone will be conference stalwarts Texas and Oklahoma (to the SEC), and a new 16-member lineup will include Arizona, Arizona State, Colorado and Utah joining the 12 returning members from last year.
Tyler Johnson has announced his retirement after playing 13 NHL seasons and winning the Stanley Cup twice with the Tampa Bay Lightning.
Johnson called it a career in a lengthy message posted on social media Monday. Johnson had battled injuries in recent years and is set to turn 35 on July 29.
“As a short kid from a small town, I saw my chances of playing in the NHL as very slim,” Johnson wrote on Instagram. “But my family — my parents, Ken and Debbie, and my grandparents — believed in me when doubt clouded my mind. Their unwavering faith turned that dream into reality.”
Listed at 5-foot-8 and 191 pounds, Johnson won at just about ever level, capturing the Western Hockey League and Memorial Cup championships in 2008 with his hometown Spokane Chiefs and the Calder Cup championship with Norfolk of the American Hockey League in 2012.
The NHL brought more success, as he skated in 863 regular-season and playoff games since debuting in the league in 2013, putting up 498 points. Johnson was part of the Lightning’s core when they reached the final in 2015 and helped them hoist the Cup back to back in 2020 and ’21.
Johnson finished with Chicago, playing three seasons with the Blackhawks, and Boston, signing with the Bruins early last season following his training camp tryout.
“After a lifetime devoted to hockey, I’m ready for what’s next,” Johnson said. “This moment is bittersweet, but I leave the game with no regrets.”
SALT LAKE CITY — The Utah Mammoth re-signed center Jack McBain to a five-year contract worth $21.25 million on Monday.
McBain will count $4.25 million against the salary cap through the 2029-30 NHL season, which was announced a little more than 24 hours since the team elected salary arbitration with the restricted free agent forward.
“He is a big, strong, physical player who competes hard on a nightly basis and brings a gritty toughness to our group,” general manager Bill Armstrong said. “Jack is an important part of the championship-caliber team we are building, and we look forward to having him back on our roster for the foreseeable future.”
McBain, 25, is coming off setting a career high with 27 points and playing all 82 games. He was one of six players to skate in every game of the organization’s first season in Salt Lake City.
“Jack’s versatility as a player, his care for his teammates and his demonstrated willingness to do whatever it takes to win, are all critical elements to our future team success,” president of hockey operations Chris Armstrong said.
McBain has 82 points in 241 games with the franchise, which moved to Utah from Arizona. Since debuting in April 2022, he ranks third in the league with 832 hits.
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