Report: Big 12 nearing private capital deal to infuse millions of dollars to conference members

Key Highlights

• It would also create a strategic partnership with the firms. AdvertisementAdvertisementAdvertisementSUBSCRIBE to the On3 NIL and Sports Business NewsletterIn a statement to Yahoo!
• Sports, the Big 12 confirmed the talks with both RedBird and Weatherford Capital.
• Schools would be able to opt-in to accept upward of $30 million in capital, according to Dellenger, but would not be required to do so.“The Big 12 Conference is in negotiations to create a multifaceted strategic business partnership with RedBird and Weatherford Capital that will focus on growing the commercial operations of the Big 12, while also providing an opt-in capital solution for our member institutions to take advantage of up to $500 million in capital,” the conference said.“RedBird will also work with the Conference to identify complementary investment opportunities inside and outside of the collegiate athletics ecosystem that will create new revenue streams and long-term asset appreciation.
• To date, the RedBird ecosystem has delivered over $145 million in contracted revenue to the Big 12 and its member institutions.
• This partnership would provide the Conference with a world-class strategic and capital partner, while preserving 100% of the member institutions’ equity in the Big 12.”AdvertisementAdvertisementAdvertisementNews of the potential deal comes after Big 12 commissioner Brett Yormark said the company did not plan on selling an equity stake in the league.