The Big 12 Conference is moving closer to a private capital agreement with RedBird Capital Partners and Weatherford Capital that could provide as much as $500 million to its member schools. Sources told CBS Sports’ Brandon Marcello that discussions are in advanced stages, with Yahoo Sports first reporting the development late Friday.
A final decision on the proposed deal is expected within the coming weeks. Beyond the financial boost, the partnership would also establish a strategic business relationship between the conference and the investment firms.
In a statement to Yahoo Sports, the Big 12 highlighted RedBird’s existing impact on the league. The conference noted that RedBird-related ventures have already generated more than $145 million in contracted revenue for the Big 12 and its member institutions. Officials emphasized that the potential agreement would maintain full equity control for conference members while adding a high-level strategic and financial partner.
The news follows a major move by Utah, a Big 12 member, which recently finalized a historic private equity partnership with New York-based Otro Capital. That agreement, expected to be completed in early 2026, is projected to bring in roughly $500 million for the university and would mark a first-of-its-kind arrangement in college sports.
The Big 12 has previously explored private equity options. Last year, CBS Sports reported that the conference considered a potential investment from CVC Capital Partners, a Luxembourg-based firm, that could have delivered between $800 million and $1 billion in exchange for a minority stake in the league.
Other conferences are also weighing similar paths. In October, CBS Sports confirmed that the Big Ten is evaluating a massive private equity deal that could exceed $2 billion and potentially extend the conference’s grant of rights through 2046.
