In Frisco, Texas, the Big 12 Conference stands out as the first Power Four conference to have all its members sign participation agreements related to name, image, and likeness (NIL) payments. This initiative follows the establishment of the College Sports Commission (CSC), tasked with overseeing such deals.
“The Big 12 wants rules and enforcements, and we aim to lead in that area,” said Brett Yormark, the Big 12 commissioner. His comments came after the conference’s annual meeting. By signing this agreement, the Big 12 illustrates its commitment to regulation.
This agreement prevents schools from filing lawsuits against the enforcement agency, granting extensive authority to penalize any rule violations about player compensation. However, for the agreement to take effect, all 68 Power Four schools must sign the 11-page document. Schools received the document for review and signing by last December.
Yormark noted, “I can’t speak for other conferences. They claim they want rules and enforcement but have not signed the agreement.”
The Big 12 board, which includes presidents and chancellors from its 16 schools, unanimously agreed to sign. Yormark anticipates receiving all signatures by early next week.
The agreement explains rules originating from last summer’s House settlement. It addresses the salary cap and the CSC’s function in scrutinizing third-party NIL deals via its NIL Go platform.
“Like any startup, and the CSC is a startup, not even 12 months old, you have to think about what’s working and what’s not,” Yormark stated. “We’ll explore this further in the weeks ahead.”
According to Bryan Seeley, CSC CEO, the CSC cleared over 26,000 NIL deals valued at approximately $242.3 million as of May 1. He recently spoke to Big 12 members during their meetings in North Texas.
Yormark expressed optimism about CSC’s direction, “I’m positive about where the CSC is heading.”
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