Commissioner Yormark of Big 12 Earned Over $4 Million in First Complete Year
The Big 12 Conference ain't no slouch when it comes to the big bucks. Their commissioner, Brett Yormark, hauled in over $4.3 million in compensation for the 2023 fiscal year, according to tax filings. That's more than the Southeastern Conference commissioner Greg Sankey took home, despite a similar timeframe.
Yormark's pay packet consisted of a base salary of $2.53 million and a juicy bonus of $1.25 million, figures that were disclosed in the Big 12's latest tax return. mind you, this was his first full year on the job.
The Big 12's fiscal year 2023 revenue tottered at $493.3 million, with expenses hitting $530.7 million. The revenue drop compared to the previous year can be attributed to the rotating College Football Playoff bowl game schedules.
The Big 12 doled out its revenue to member schools, with Texas – the soon-to-be ex-member – getting the biggest slice at $42 million. Newcomers like Houston, BYU, UCF, and Cincinnati received between $19.9 million and $20.8 million each.
Earlier this month, Yormark signed a contract extension that'll keep him as commissioner until 2030. A media-savvy cat, Yormark took over from Bob Bowlsby in August 2022 and brought a fresh, innovative approach to the revenue-generating gig.
Before stepping into the Big 12 scene, Yormark was the CEO and president of Roc Nation, Jay-Z's entertainment agency. Prior to that, he led Brooklyn Sports & Entertainment, overseeing the Brooklyn Nets and Barclays Center.
In the 2024 fiscal year, the Big 12's highest-paid independent contractors were Endeavor (parents of WME Sports and IMG Media) with $1.58 million, and creative marketing agency Translation, who pocketed $3.2 million for their efforts in rebranding the Big 12.
Insight: The Big 12's revenue is growing, but it still lags behind the Southeastern Conference (SEC), which boasts higher TV contract payouts and private capital infusions. The SEC's financial edge is so substantial that it's playing on a completely different field. The Big 12 has attempted to keep pace through private capital approaches, but for now, the SEC's financial might is considerable. Source: [1][2]
[1] conference revenues and annual distributions, [2] Big 12 financial position compared to SEC.
Yormark, the commissioner of the Big 12 Conference, has shown a keen interest in sports, particularly football, as he brought a fresh, innovative approach to revenue generation in the conference. Despite the Big 12's revenue growth, it still trails behind the Southeastern Conference (SEC), with the latter's financial edge being so substantial that it's playing on a completely different field, due to higher TV contract payouts and private capital infusions.
