Big 12 pulls in $50 million hoops NIL deal with Players Era

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Big 12 pulls in $50 million hoops NIL deal with Players Era

The Big 12 Conference and the Players Era Festival have announced a six-year, $50 million equity partnership that guarantees every participating men’s basketball team at least $1 million in NIL payouts, according to ESPN .

The event will expand to 32 teams next year, with eight automatic bids awarded to Big 12 members. Each group of eight teams, will play three games in the first two weeks, and the four group winners will advance to a third week for a final or consolation game.

Teams such as Houston Cougars , Kansas Jayhawks and Iowa State Cyclones are among those expected to benefit under the agreement.

Big 12 Commissioner Brett Yormark described the festival as a tremendous platform to showcas