The Big 12 is considering a proposal to sell a 20% stake in the conference to private equity firm CVC Capital Partners, based in Luxembourg. CVC introduced the proposal at the Big 12’s spring meetings in Dallas. The investment could be up to $1 billion, providing a major cash infusion that would – at least temporarily – narrow the financial gap between the Big 12 and other “Power 4” conferences (notably the Big Ten and SEC). With equal revenue sharing among its 16 members, the $1 billion would amount to $63 million per school.
Discussions are advancing with a working group of three Big 12 presidents actively evaluating the details of the proposal. The league’s commissioner, Brett Yormark, has refrained from commenting on the ongoing talks.
The move is seen as a way to strategically enhance the Big 12’s media rights value which currently stands at $2.3 billion. The proposed deal would give the conference a $5 billion valuation.
The initiative reflects a broader trend of exploring new revenue avenues in college sports, underscored by recent shifts towards player revenue-sharing following the landmark settlement in House v. NCAA.