About 72% of Americans identify as football fans, that’s more than 241 million people. Football is big business. The NFL generated roughly $20 billion of revenue in 2023 and during the Super Bowl, companies paid $7 million per 30-second commercial. College Football TV rights alone accounted for roughly $4 billion in 2023. That doesn’t include College Football’s merchandise, ticket sales, sponsorships, or any NIL deals, including the recent deal with EA Sports to use the Name Image and Likeness of current College Football players in their new videogame, “creatively” named (in a generic way my trademark colleagues would hate) “College Football 25.” Football is America’s favorite sport, but its also becoming the favorite business of many Americans too.
I, too, am a self-professed football fan. Having grown up in Iowa, which is one of the twenty-four states without a professional sports team, I quickly became a college football fan. The first college football game I attended was on October 25, 1997, a Big 12 showdown at Jack Trice Stadium in Ames, Iowa. The Iowa State Cyclones snapped a 13-game losing streak by defeating the Baylor Bears from Waco, Texas, which lead to Iowa State students “snapping” both goalposts and tossing them into Lake LaVerne on campus. That was my introduction and indoctrination into football, my alma mater Iowa State University, and is part of the reason I am still an Iowa State Football season ticket holder today even though I live in the Land of 10,000 lakes (and a Vice Presidential candidate) just to the north of Iowa.
The Big 12 has been my “home” conference for as long as I can remember. As any Big 12 fan will tell you—these past few years have been a wild ride. In 2021, Texas and Oklahoma announced, “SEE YA LATER,” and just like that, the conference’s two biggest brands kicked open the saloon doors and headed for greener pastures in the SEC. Their departure left a $100 million gap that the remaining eight Big 12 members had to “figure out.” Then, out of nowhere, like a superhero wearing a tailored suit and a subtle smirk, Brett Yormark leaped from Jay-Z’s Roc Nation in New York City and crash-landed in Irving, Texas, ready to take over as Commissioner of the Big 12 in 2022.
Before Yormark’s arrival, past Big 12 Commissioner Bob Bowlsby solidified the Big 12’s worse-than-shaky footing by bringing in additional schools to backfill the loss of Texas and Oklahoma. From day one, Yormark had momentum. One of his early moves was to negotiate a six-year media rights deal with ESPN and Fox worth a reported $2.28 billion, ensuring the Big 12’s long-term financial stability. This move was particularly impressive, given the uncertainty surrounding the conference at the time. Yormark nailed down a solid TV rights contract at a record pace, and at a time when the rival conference Pac-12 was struggling to find a buyer.
Brett Yormark's biggest achievement was securing a guaranteed revenue per team, ensuring revenue remains constant if any major brands are added to the Big 12 in the future, a clause that many would have considered unnecessary as conference realignment is so rare. After the deal was complete, Yormark’s focus became expanding the conference’s footprint and inventory, ensuring that the Big 12 remained competitive and relevant in the changing landscape of college sports. As Yormark famously said at his first Big 12 Media Day, “THE BIG 12 IS OPEN FOR BUSINESS.” It took one year for him to add four additional major brands from the Pac-12. Yormark delivered.
Yormark’s leadership of the Big 12 is a perfect example of how creativity is vital to entrepreneurship and business success. In any industry, thinking outside the box and taking calculated risks can lead to great rewards. Yormark inherited a conference in crisis, but by applying creative solutions, he turned things around in a relatively short period of time. He figured it out.
Entrepreneurs and business leaders often face similar challenges—uncertainty, competition, and the constant need for innovation through creativity. The most successful individuals and organizations are those who tackle these challenges (pun intended) by finding new, strategic approaches. It’s like designing the perfect play in football; the greatest success comes to those who are willing to play the game differently, rather than just trying to excel at what everyone else is already doing. RIP Mike Leach.
As football season kicks into gear this September, remember (and celebrate?) that the sport is as much an American cultural phenomenon as it is an ever-evolving business. The financial success of football, particularly in the Big 12, is a direct result of superior creativity and strong leadership. Brett Yormark is a shining example of how creative thinking, entrepreneurial spirit, and strategic risk-taking can lead to great success in an industry that is constantly changing. Whether you're leading a college sports conference or an emerging business, the lesson is clear: creativity holds undeniable value. Thinking outside the box and staying ahead of your competitors is essential for long-term success, no matter how you define “figuring it out.”
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