FRISCO, Texas — Despite all the recent changes in college football, the biggest reason the Big 12 formed and began playing football 30 years ago — money — has never been more relevant.

When the old Big Eight merged with four programs from the Southwest Conference, it was about leverage in negotiations with TV partners and the potential increases in revenue shares for every member.

The Big 12’s current TV deal with ESPN and Fox runs through the end of the decade. But what remains top of mind in 2026, like it did in 1996, is finances and how the conference can provide resources to now 16 members.

“We are now in full growth mode, and one of our top priorities is to create value for our member institutions,” Big 12 commissioner Brett Yormark said Tuesday at the Star in Frisco, the headquarters for the Dallas Cowboys.

The conference just announced a multiyear naming rights partnership with Monster Energy for regular-season football and basketball games that is worth a reported $20 million, or $1.25 million per school. The current deal with PayPal also pays each school around $1 million per year, and there are avenues for each school to generate more revenue in an era where the cost of rosters increases every year.

Potential expansion hasn’t been ruled out, but the Big 12 is happy that conference realignment has slowed — for now.

“It’s taken a lot of time and effort to build cohesion. I think we’re finally there,” Yormark said. “I don’t think as a conference we’re the best version of ourselves. We’ve got some work to still do, but we’re well on our way.”

Thirty years in, the Big 12 is leaning into its identity as a league defined by parity and a brand of football that is exciting to watch.

“I just love Big 12 football. I really do,” Colorado coach Deion Sanders said. “I think it’s among the best, arguably the best. We don’t get the credit like that, but it’s among the best.”

Part of the reason the Big 12 is still regarded as a tier below the Big Ten and SEC — and is likely to remain there for now — is because of representation in the College Football Playoff. 

The conference has gotten only one team in the field in each of the first two seasons of the 12-team field, with champions Arizona State and Texas Tech failing to win a game once getting there.

That’s why the Big 12 supports potential playoff expansion to 24 teams, even if logistics remain unclear, after previously being in favor of a potential 16-team field.

“We need more access. I’m a firm believer in that, the Big 12 is a firm believer in that,” Yormark said. “Where that takes us, I can’t tell you today. I don’t have a crystal ball, but I want more access.

“When 24 (teams) became part of the conversation, we’ve done our own conference due diligence around it, and we think it might be a great fit for us. We discussed it most recently in our spring business meeting with our coaches. Across the board they liked it, and we continue to have those conversations with our ADs and our presidents.”

For now, the Big 12 will keep banging the drum to get multiple programs in the 12-team field again this season. Last year, it was BYU who was just on the outside looking in. The Cougars, along with returning conference champion Texas Tech and the likes of Arizona, Houston and more will enter the fall with expectations to compete for a CFP spot.

“Everybody has a shot. And that’s why there’s so much parity in this league,” BYU coach Kalani Sitake said. “Looking at the champions, I mean, the last six champions have been different teams. And they haven’t had a back-to-back team do it. But if there’s anyone that can do it, it would probably be Texas Tech. So you have all these great leaders with great cultures. and they have a system (on) how to put things into work.”

Much about the Big 12 has changed over 30 years, but what’s at the core remains the same to those involved.

“I was part of the Big 12 as a player right when the Big 12 got started, and I love the college towns and the college feel of all these places. It’s unbelievable,” Central Florida coach Scott Frost said. “I’ve been to almost every stadium. It’s different environments. It’s different parts of the country, different scenery, in every place.

“From top to bottom, (in) this league, you have to be ready to play every week because of the level of coaching and playing in this league. We’re going to continue to attract more fans because of the style of football that’s being played.”