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The Big 12 Conference could be undergoing some significant changes without losing any of its members. There are reports in the media that the conference could sell its equity stakes in near future.
It has been reported by Dennis Dodd of CBS Sports that there's a deal on the table with CVC Capital Partners. It will earn the conference anywhere between $800 million to $1 billion in exchange for a 15-20 percent stake in the Big 12 Conference.
During a news conference back on May 31, Brett Yormark hinted at this idea, but did not provide specific information.
"I take it as a personal goal to make sure that I can best resource our schools for this next chapter." h/t Yahoo Sports
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The deal is yet to be officially agreed upon at the time of writing. But the idea of the Big 12 Conference selling equity pieces for a 10-figure cash influx could be the start of something that college sports is yet to see.
What other deals has Brett Yormark been working on?
This is surprisingly not the only way that Big 12 Commissioner Brett Yormark is looking to significantly increase revenue for the conference.
In addition to selling minority shareholding in the league, there have also been conversations with multiple companies about selling the naming rights of the conference. This will be similar to the naming rights of a stadium.
That deal is expected to bring in around $30-$50 million annually and is a more realistic option for suitors incapable of buying shares in the conference.
These deals would provide more revenue to the current 16 members of the Big 12 Conference. As a result, it will make the conference more enticing for other schools too.
If these two deals were to go into effect, this would increase the Big 12's revenue generation to levels similar to other power conferences.
Brett Yormark has shown the ability to be creative with his ideas, and with these, he hopes to take the conference to new heights.
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