Houston head coach Kelvin Sampson made it very clear why his team was playing in the Players Era Festival for a second year running. "We had no choice...we gotta have money." The Players Era Festival doles out a minimum $1M in guaranteed NIL money that will go to each of the eight teams competing in the tournament. Now the Big 12 has an investment stake in the tourney. The conference is set to announce a five-year deal to take a 15% equity stake in the Players Era Festival, along with a minimum guarantee from annual revenues, those involved with the agreement told Sports Business Journal. The equity stake begins immediately, while the minimum guarantee will begin with next year’s event. As part of the deal, the Big 12 will receive eight bids to the Players Era tournament when it expands to 32 teams next season. Those teams will be selected based on conference standings from the previous year.