Big 12 Partners with Players Era for Expanded Basketball Festival

LAS VEGAS, NV — The Big 12 Conference announced a $50 million equity partnership with the Players Era Festival on Monday, marking a significant expansion for the event. Starting next season, the festival will feature 32 teams, with the Big 12 receiving eight automatic bids annually.

This new partnership ensures that all participating teams will receive a guaranteed $1 million in Name, Image, and Likeness (NIL) payouts. The event has grown rapidly from eight teams last year to 18 this year.

Seth Berger, CEO and founder of the Players Era, explained that the tournament will be structured into four groups of eight teams. During the first two weeks, two groups will play three games each, followed by the group winners returning for additional games in the final week.

Key teams in this year’s festival include No. 2 Houston, No. 16, and No. 24. Representatives from the Big 12 for future tournaments will be based on the previous year’s conference standings. Had the partnership been in place this year, teams such as Iowa State, Kansas, and Baylor would have participated.

Houston’s coach, Kelvin Sampson, emphasized the financial benefit for returning to the festival. “They’re giving us $1 million, that’s why we’re there,” he said. “If they put a court down at some vacant lot and gave us $1 million, I’d go play there, too.” He pointed out that this arrangement helps avoid donor fatigue.

Berger highlighted the importance of the Big 12 in the growth of collegiate athletics. “The conference has been instrumental to our growth from day one,” he stated. The partnership guarantees access to a premier college basketball event outside of March Madness.

The Players Era aims to emulate the NCAA tournament style in November, potentially extending beyond Las Vegas in the future. As the event continues to expand, it may reshape other Feast Week events due to its competitive payouts.

Big 12 Commissioner Brett Yormark expressed excitement about the partnership, stating, “This tournament is a tremendous platform to showcase our conference.” He added that the collaboration will enhance the prominence of the conference’s teams and student-athletes.