Gonzaga to the Big 12 heats up as both sides show 'mutual admiration'

Gonzaga's TV value was recently ranked among the highest in college basketball

Adding Gonzaga to the Big 12 remains a high priority for league commissioner Brett Yormark, who tried once again to sell the idea to conference officials during last week's spring meetings in White Sulphur Springs, West Virginia. 

Yormark pushed for an expansion that would include Gonzaga as a basketball-only program and UConn as an all-sports member. According to a report from CBS Sports, there is "mutual admiration" at the presidential level between Gonzaga and the Big 12

"We're going to consider all options," Yormark said in a Zoom conference with reporters last Friday. "We do see the upside in basketball for all the right reasons. We think it is undervalued and there is a chance for us to double down as the No. 1 basketball conference in America."

The resistance to Yormark's proposal has largely centered around its financial impact, especially in regard to the league's television deal with ESPN and Fox. With football being by far the most profitable collegiate sport, it's difficult for some Big 12 administrators to consider adding a basketball-only member like Gonzaga. 

However, Gonzaga may be the exception, considering its television value was ranked among the highest in college basketball. The Zags were listed fifth in a metrical called "TV Power" by Navigate, a Chicago-based consulting firm used by several conferences to examine the potential impact of their realignment efforts. Navigate is currently working with Gonzaga on a potential move to the Big 12 or Pac-12.

If Gonzaga joins the Big 12, it's believed the money would come from within the conference. Schools might give up some of their revenue shares to attract Gonzaga, but the league is also sitting on $100 million it received from Texas and Oklahoma in a combined buyout for them to join the SEC after the 2023-24 season. 

Regardless of how Gonzaga is compensated by its Power Five suitors, the amount would be significantly higher than what the West Coast Conference can guarantee. Right now, the WCC guarantees a weighted share of its revenue to the Zags, a deal the school negotiated in 2019 after being courted by the Mountain West Conference.

Under the contract, the WCC divides the first unit of the tournament revenue evenly among the 10 teams but gives teams a larger portion of any additional units they generate for each tournament game they play. Each unit is valued at roughly $2 million. 

The WCC earned six units from last season's tournament worth $12 million, according to Sportico. In comparison, the Big 12 took home 16 units totaling $32 million. Plus, while the WCC gets most of its revenue from the NCAA Tournament, the Big 12 gets most of its money elsewhere. March Madness is only a slice of the revenue collected by Power Five conferences, which mostly rely on college football and television deals. 

The Big 12 distributed an estimated $44 million to each member for the 2022-23 fiscal year, a record high for the conference. That dwarfs any payout Gonzaga could receive from the WCC. 

If the Zags are willing to take midweek trips to Ames, Iowa, and Orlando, Florida, joining the Big 12 seems like an obvious financial decision.