The latest Gonzaga to the Big 12 rumors

Big 12 commissioner commented on discussions with Gonzaga at the Big 12 women's basketball media day

It's almost been one year since Gonzaga and the Big 12 first had a "growing mutual interest" in the Bulldogs joining the Power 5 conference. Since then, it's become a "will they or won't they" scenario after Big 12 commissioner Brett Yormark publicly closed, then reportedly reopened talks with Gonzaga in a month's time. The immediacy of the addition was in question, not to mention the financial implications that would come with such a move. 

Yormark provided clarity on the subject at the Big 12 women's basketball media day on Tuesday. Here's what he told On3.com:

“There’s nothing imminent. But I do explore all options that come to me. And if it creates value for membership — both short and long-term — I’m gonna pursue it even further. But right now, we love the makeup and composition of this conference. Love the Four Corners that are joining us."

“Just to continue to create value where I can. When I think about our conference, we’re 27 years old. I think, in many respects, we’re a mature startup. We’re in our infancy stages. We have to explore every possibility and opportunity to continue to grow and create value for our members' institutions, and that’s what my job is. … We’re really happy about where we are now, as I said in my opening comments."

Gonzaga's Anton Watson ranked as one of the most valuable players in the country

It doesn't appear Yormark's wish of bringing Gonzaga in by the 2024-25 season will come true, but that doesn't rule out expansion entirely. Front Office Sports reported Yormark had "overwhelming support" to explore the move from conference officials. Some Big 12 members have voiced concerns from revenue sharing to scheduling, as Matt Norlander reported there's a "laundry list" of questions Yormark would need to bring to Gonzaga first. 

Still, there are some in favor of adding Gonzaga according to college basketball insider Andy Katz.

There is momentum shifting toward a potential @ZagMBB addition to @Big12Conference. But still a number of financial hurdles, especially with @MarchMadnessMBB units. Could it happen for ‘24-25? Maybe. But still premature. Zags bring six sports to Big 12 for regular-season…

— Andy Katz (@TheAndyKatz) October 18, 2023

Like in all conference realignment talks, TV contracts and revenue distribution are at the forefront. Despite the national appeal of Gonzaga's men's basketball brand, some Big 12 schools don't like the idea of sharing media revenue with a non-football school. Gonzaga would likely take a smaller portion of the distribution at first anyway, though if Yormark's vision comes to fruition, a little less upfront might not matter in the long run.

Yormark: Current @big12 media rights deal gave league "optionality" to bifurcate fb and bkb in next deal. Still has to have value.

— Dennis Dodd (@dennisdoddcbs) October 17, 2023

Yormark's idea to "create value" is based on the concept of having separate TV contracts for Big 12 football and basketball. The conference signed a massive six-year, $2.3 billion deal with ESPN and FOX last fall that'll begin in 2025. There's some reworking to do in regard to revenue distribution per school now that the four former Pac-12 schools are set to join in 2024, though Yormark's determination to make the Big 12 the best basketball conference in the country starts with creating value in the sport through TV money.

For Gonzaga, there's also a lot to unpack financially. The school received a $15 million annual valuation from its consultants over the summer according to CBS Sports, which is less than half of what Big 12 schools are set to earn this season. The men's basketball program ranked fifth in a "TV Power" metric from Navigate, which has aided in the process of Gonzaga moving to the Big 12.

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