The Big 12 is “considering a first-of-its kind private equity investment” to ensure the league's “long-term financial and competitive security,” according to sources cited by Dennis Dodd of CBSSPORTS.com. Sources said that the possibility of a “cash infusion” of $800M to $1B is “on the table” from Luxembourg-based CVC Capital Partners in exchange for a 15% to 20% stake in the conference. A portion of the money “would go directly to the 16 conference members,” and the partnership “would give the conference access to CVC's investment services and clients.” Sources said Big 12 Commissioner Brett Yormark “had a prior relationship” with CVC. Dodd notes the firm “made a presentation to the league at the recent Big 12 spring meetings in Dallas.” A source indicated that the talks between the parties are “pretty serious,” but that “many league presidents need further convincing.” Should the two sides come to an agreement, it is “not clear how soon a deal could be completed or when that money would start rolling into the conference.” Dodd notes the CVC investment would “likely require the Big 12 to stay together long term,” which “might require some sort of assurance for CVC that a new grant of rights would be signed in 2031.” Sources also said that a “small working group of three Big 12 presidents have started digging down on the proposal” (CBSSPORTS.com, 6/13).
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