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The Big 12 is the only major conference that allows members to monetize TV rights for tier 3 events in football and men's basketball. [37] This allows individual Big 12 member institutions to create tier 3 deals that include TV rights for one home football game and four home men's basketball games per season.
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On July 27, 2023, Colorado, a former member of the Big 12, announced it would rejoin the conference from the Pac-12 beginning in the 2024–25 academic year. The following week, Arizona, Arizona State, and Utah announced they would leave the Pac-12 for the Big 12, also effective for the 2024–25 academic year.
The schools that composed the Big 12 Conference in the most recent 2022–23 season, except West Virginia, were members of either the Big Eight Conference or the Southwest Conference, and have won six national titles including three titles since the inception of the Big 12 Conference.
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In particular, following the inability of the Pac-12 to secure a new media deal, speculation emerged that Arizona and former Big 12 member Colorado would join the Big 12. [154] On July 26, 2023, the presidents and chancellors of the Big 12 member universities voted unanimously to admit Colorado as a member. [ 155 ]
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