Big 12 Conference Eyes New Funding Opportunities with Capital Partnership

The Big 12 Conference is on the verge of a major shakeup through a business partnership that could pump serious capital into its schools. The deal, still in the works, would involve RedBird and Weatherford Capital and could mean up to $30 million more for each school.

This time, the partnership is pitched as an “opt-in capital solution.” Unlike older private equity attempts, it lets schools tap into new funds without giving up equity. The Big 12’s been struggling to keep up financially with other big conferences, so a move like this could offer some real breathing room.

The Big 12’s Strategic Business Partnership

Big 12 officials are actively working out the details of a business partnership with RedBird and Weatherford Capital. The deal could give the league and its schools a much-needed financial jolt.

According to league sources, each of the 16 member schools would have the option to access up to $30 million in extra funding. It’s an “opt-in” setup, so schools can join if and when they want.

Financial Relief Amid Budgetary Strains

With athletic departments feeling the pinch, this partnership could really shift things. The total line of credit could reach $500 million, and schools can decide if they want to participate.

In the past, private equity deals struggled to get everyone on board. Commissioner Brett Yormark said they’re still being careful, explaining, “We’re just not ready to jump in just yet.”

Expanding Commercial and Business Operations

One main goal here is to expand the Big 12’s commercial and business operations at the league office. By growing those efforts, the conference hopes to boost its revenue and steady its finances.

This is especially important since the Big 12’s yearly payouts still trail behind the Big Ten and SEC. The main culprit? Lower TV rights revenue.

Media Rights Extension and Revenue Distribution

The 2025-26 school year will kick off a new media rights extension between the Big 12 and its TV partners, ESPN and Fox. This deal, signed in 2022, runs through 2030-31 and finally gives all 16 schools full-member shares.

Even with the extension, though, the Big 12’s revenue distributions lag behind its rivals. That makes this new partnership all the more urgent.

Private Equity in College Sports

Private equity’s become a hot—and sometimes controversial—topic in college sports. Conferences and schools are hunting for outside funding, but they’re wary of giving up too much control in the process.

The Big Ten, for example, tried to strike a deal with UC Investments: $2.4 billion in exchange for a 10 percent stake in the league’s media and sponsorship rights. That deal’s on hold now, thanks to pushback from Michigan and USC.

Utah’s Groundbreaking Private Equity Partnership

Utah, now in the Big 12, made headlines by approving a private equity partnership with Otro Capital. This deal set up a for-profit business to support Utes athletics and boost revenue, with Otro taking an ownership stake in a deal worth nine figures.

The Big 12’s possible partnership with RedBird and Weatherford Capital wouldn’t affect Utah’s arrangement.

About RedBird and Weatherford Capital

RedBird is an investment firm with a strong sports presence. They’re involved in international soccer and Formula One, and manage over $10 billion in assets.

RedBird also works with Abu Dhabi-based International Media Investments, backing the Players Era Festival—a college basketball event in Las Vegas.

Weatherford Capital’s Sports Investments

Weatherford Capital, with ties to Dallas and Tampa, manages over $1 billion in assets. The leadership team includes Drew Weatherford, a former Florida State quarterback, and his brother Will, both active on university boards.

Their portfolio features IMG Academy, a well-known prep school and training center. They’ve also played a big role in South Florida’s athletic projects, including a new on-campus football stadium set for 2027.

Complementary Investment Opportunities

As part of the potential deal, RedBird would help the Big 12 scout out new investment opportunities, both inside and outside college sports. The goal? Create fresh revenue streams for the league and its schools, and hopefully strengthen the conference’s financial outlook.