Big 12, Players Era announce $50 million multi-year deal

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 programs in rights fees."

The Players Era is a subsidiary of EverWonder Studio.

The Players Era men's championship -- renamed this year after being known as the Players Era Festival for its debut -- increased from eight to 18 teams for its second tournament.

The four-day men's event, which tipped off on Monday, is being contested at Las Vegas' MGM Grand Garden Arena and Michelob Ultra Arena, home of the WNBA's Las Vegas Aces.

In the inaugural men's tournament, Oregon defeated Alabama, 83-81, for the championship.

Big 12 schools involved in this year's tournament are No. 2 Houston, No. 15 Iowa State, Kansas and Baylor. That number will double next year, although any of the top eight schools in the 2025-26 conference standings may turn down the opportunity to play if they have a prior commitment.

"The Big 12 Conference is thrilled to grow its partnership with Players Era," Big 12 Commissioner Brett Yormark said in a statement. "The tournament is a tremendous platform to showcase our conference, student-athletes and coaches as the best in college basketball, and we look forward to continuing to make Players Era a national marquee event."

There is a four-team Players Era women's event -- featuring heavyweights Duke, South Carolina, Texas and UCLA -- that will take place on Wednesday and Thursday.

"This innovative event brings together everything we're looking for -- quality games early in the season, a great location for fans to come and enjoy, and NIL opportunities for our players," said South Carolina coach Dawn Staley on playersera.com.

The Players Era Championship goes head-to-head with the iconic Maui Invitational and other college basketball tournaments during Thanksgiving week.

This year's games are being broadcast on TNT, TruTV and Max.

--Field Level Media