The Big 12 Conference and Players Era -- a college basketball brand built around a fledgling tournament in Las Vegas -- announced a multi-year, $50 million equity partnership on Monday centered around league teams' participation in the 2026 team event.

Eight Big 12 teams will gain automatic entry into the tournament expected to expand to 32 teams in November 2026. The financial agreement will guarantee each participating team a $1 million NIL share.

"The Big 12 now receives guaranteed access to the biggest college basketball event outside of March and it will benefit perennial powers and teams with national championship aspirations," Seth Berger, CEO of Players Era, said in a statement. "Over the next six years, Players Era will commit no less than $50 million to Big 12 basketball progra

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