"The deal, via Collegiate Athletic Solutions, known as CAS, follows failed talks earlier in the year for a direct investment into the Big 12, and would mark the first major conference-wide capital deal in major US college sports. The partnership would offer the 16 member universities a line of credit of roughly $30 million each and is close to being finalized, the person added, asking not to be named discussing private information."
"Many colleges are facing mounting financial pressures from rising athlete pay and escalating coaching salaries, driving the demand for upfront capital. Conferences and schools are increasingly looking for funds to be repaid over several years, often secured against future revenue from media rights. The Big 12 confirmed the negotiations in a statement to Yahoo! Sports, which first reported details of the deal. A representative for the Big 12 could not be reached for comment."
"Earlier this year, the Big 12 came close to striking a deal with CAS, but talks faltered at the last stage. This followed failed negotiations with CVC Capital Partners in 2024 for a potential private equity investment of up to $1 billion in exchange for a 15% to 20% stake in the conference. The Big Ten has also paused negotiations on a $2.4 billion loan from California pension fund subsidiary UC Investments, following opposition from key members like the University of Southern California and Michigan."
The Big 12 is in advanced talks for a $500 million cash injection from an investment firm backed by RedBird Capital and Weatherford Capital via Collegiate Athletic Solutions (CAS). The proposed partnership would provide the conference's 16 member universities a line of credit of about $30 million each and is reportedly close to finalization. Rising athlete compensation and escalating coaching salaries are increasing demand for upfront capital, with funds often structured to be repaid over years and secured against future media-rights revenue. Prior negotiations with CVC and earlier CAS talks faltered, while other conferences are also weighing institutional deals.
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