With the SEC and Big Ten dominating the college athletics landscape, at least in terms of revenue share, there is pressure for other conferences to do what they can to secure more resources. These leagues will not be able to keep pace, but a cash infusion can go a long way in ensuring that they do not fall far behind in this rapidly-changing industry. The Big 12 is close to making such a move.
“Big 12 presidents & ADs today reviewed bids from three finalists in the league’s pursuit of a capital partner, sources tell @YahooSports,” college football reporter Ross Dellenger posted on X. “Firms are proposing to infuse millions to schools. RedBird Capital has emerged as the leader. A decision is expected in the coming weeks.”
RedBird Capital Partners is a large private investment firm that owns prominent Italian soccer club A.C. Milan, Toulouse FC of France’s Ligue 1 and 10 percent of Fenway Sports Group, per On3’s Pete Nakos. Dellenger clarifies that the proposal in question is of the capital nature and not equity.
The Big 12 Conference did pursue a private equity deal with CVC Capital Partners last summer, but no arrangement was ultimately procured. Additionally, Commissioner Brett Yormark had his sights set on selling the name rights of the league to insurance behemoth Allstate. While no partnership has come to pass as of now, it is clear that the Big 12 is considering every possible avenue as it seeks immediate spending power.
Is the Big 12 Conference navigating dangerous terrain?
The ramifications of a potential union with RedBird Capital will worry many fans, as the game becomes further ensconced in the world of corporate greed. That being said, Big 12 athletic directors could use financial assistance to make deals and investments that can lead to long-term growth. Meanwhile, the prospective capital partner will get a stake of the conference, which they obviously believe will increase in value down the road.
The Big 12 is trying to get ahead of the game and thrust the sport into a future that others think is already destined. But does anybody actually want to be the one to open that door? The times are a-changin’.
The post Big 12 Conference on the verge of making massive partner decision appeared first on ClutchPoints.
