The Big 12 Conference is in advanced discussions with an investment firm backed by RedBird Capital and Weatherford Capital over a proposed $500m financing, according to a report by Bloomberg citing a person familiar with the matter. The deal would be structured through Collegiate Athletic Solutions and would represent the first major conference-wide capital arrangement in major US college sports.
Under the proposal, the Big 12’s 16 member universities would each gain access to a line of credit of around $30m. Talks are said to be close to completion, following earlier failed discussions this year over a direct investment.
The move comes as college athletic programmes are facing financial pressure from rising athlete and coaching compensation, prompting conferences to explore new funding models secured against future media rights revenues.
Big 12 commissioner Brett Yormark has said the conference is not looking to sell an ownership stake but is open to partnerships focused on commercial growth. It currently has a $2.3bn media rights agreement with ESPN and Fox running through the 2030–31 season.
