The Big 12 will acquire a 15% stake in the Players Era Festival on a five-year deal that will include eight Big 12 teams in the field starting next year when the tournament expands to 32 teams and a minimum guarantee from annual revenues, per SBJ's Ben Portnoy, who adds: “Players Era is in the final year of a two-year deal with TNT for its broadcast rights. Tournament representatives are in discussions with broadcast partners that could include ESPN, Fox, Netflix and Warner Bros. Discovery, sources told SBJ. The expectation, too, is Players Era would fetch a lengthier deal than its initial agreement with TNT, though conversations remain ongoing.” Commissioner Brett Yormark: “My business, the business that I’m in, candidly, is value creation for my membership. Wherever I can create value, it’s upon me as the commissioner to explore it. This is a way to do it.” (link)