Power Four conferences are guaranteed at least one bid to a New Year's Six bowl game and have been granted exemptions from certain NCAA rules.

The Big 12 began athletic play in fall 1996, with the Texas Tech vs. Kansas State football game being the first-ever sports event staged by the conference.

[29] On June 10, 2022, The American and its three departing members announced a buyout agreement that allowed those schools to join the Big 12 in 2023.

[30] On February 9, 2023, Oklahoma and Texas announced they had reached a settlement with the conference that allowed them to join the SEC on July 1, 2024.

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.

The unique arrangement potentially allows Big 12 members to remain some of college sports' highest revenue earners.

[43] The Big 12 announced on September 9, 2022, that it appointed WME Sports and IMG Media, Endeavor companies, to facilitate its global content and commercial strategy.

[44] November 14, 2022 Big 12 formed a comprehensive business advisor board composed of over three dozen entrepreneurial icons and respective industry leaders.

From the likes of Monte Lipman the Founder/CEO Republic Records, Steve Stoute Founder/CEO UnitedMasters & Translation, Mark Shapiro President of Endeavor, Gary Vaynerchuk’s VaynerMedia, singer Garth Brooks, NBA legend Jason Kidd, Keith Sheldon President of Entertainment for Hard Rock Cafe International, and Ross Levinsohn Chairman and CEO - The Arena Group & Sports Illustrated.

The Conference and BAPE worked together to create limited-edition clothing and a camouflaged Big 12 logo throughout the stadium, arena, and uniforms.

The Big 12 has 11 official corporate partners: Allstate, Children’s Health, Dr Pepper, Gatorade, Grand Caliber, Old Trapper, On Location, Phillips 66, Sonic Hard Seltzer, Sprouts Farmers Market, and Tickets For Less.

[47] On March 15, 2023, before the NFL Draft, the Big 12 announced the first of its kind across all college conferences, being a conference-wide Pro Day.

Instead of schools hosting separate pro days for their football players, there will be only one conference-wide scouting event before the 2024 NFL draft.

In June the event was officially announced as "Big 12 Hoops in the Park", to host men's and women's summer exhibition games.

[49] Early June 2023, the "Big 12 Mexico" was announced, which will include men's and women's soccer, baseball, basketball, and football games and an international media rights strategy.

[50] Conference revenue comes mostly from television contracts, bowl games, the NCAA, merchandise, licensing and conference-hosted sporting events.

Changing the arrangement requires a unanimous vote; as a Big 12 member, Nebraska and Texas A&M had withheld support for more equitable revenue distribution.

[73] In 2022, the conference renewed its media rights with ESPN and Fox Sports for six seasons starting in 2025–26, with an estimated US$380 million average annual fee.

Total expenses includes coach and staff salaries, scholarships, buildings and grounds, maintenance, utilities and rental fees, recruiting, team travel, equipment and uniforms, conference dues, and insurance.

The following table shows institutional reporting to the United States Department of Education as shown on the DOE Equity in Athletics website for the 2022–23 academic year.

[75] The following table shows Big 12 Conference distributions during the fiscal year ending June 2023 as reported by ProPublica using Schedule A of the Big 12 Conference tax filings[76] Sources:[96][97] †Private institution not required to release coaching salaries •Salaries based on 2022–2023 academic year The national championships listed below are as of the January 22, 2025.

The only national championships won by 2012 arrivals TCU and West Virginia since joining the Big 12 have been in rifle, a sport that the conference has never sponsored.

Cross country, golf, gymnastics, swimming and diving, track and field, and wrestling titles are awarded during an annual meet of participating teams.

[107] This format came under considerable criticism, especially from Nebraska and Oklahoma, who were denied a yearly match between two of college football's most storied programs.

Due to the departure of Nebraska and Colorado in 2011, the Big 12 eliminated the divisions (and championship game) and instituted a nine-game round-robin format.

[108] Per Big 12 commissioner Bob Bowlsby: "Schedule strength is a key component in CFP Selection Committee deliberations.

The rivalry between TCU and Baylor, known as the Revivalry is also one of the longest running in college football, with the two universities having played each other — largely as Southwest Conference members — 120 times since 1899.

In 2019, ESPN announced that it would acquire the third-tier rights to all Big 12 teams through 2024–25 (excluding Oklahoma and Texas, which are still under long-term contracts with ESPN+ and Longhorn Network respectively), and place their content on its subscription streaming service ESPN+.

It is a six-year media rights agreement worth a total of $2.3 billion, but also reportedly includes an "escalator clause" that will raise the value of the contracts if only Power Five schools are added.

By striking a deal prior to the exclusive negotiating window with ESPN and Fox, the Big 12 managed to achieve several of its primary objectives of stability and security, including the ability to consult its member schools to seek an extended grant of rights and potential future conference expansion.