Big 12 Exploring $1 Billion Private Equity Investment and Naming Rights Options
The Big 12 Conference is in discussions with Luxembourg-based CVC Capital Partners regarding a potential private equity investment worth between $800 million and $1 billion. In exchange, CVC would receive a 15% to 20% stake in the league, with a portion of the funds directed to the 16 conference members. This marks the first time the Big 12 has engaged in talks with a private equity firm for such an investment.
The potential deal comes as the Big 12 aims to enhance its financial and competitive position, particularly in light of recent changes, including the departure of Texas and Oklahoma and the addition of Arizona, Arizona State, Colorado, and Utah. The infusion of capital could help the conference narrow the revenue gap with other major conferences like the Big Ten and SEC. Additionally, the Big 12 is exploring a naming-rights partnership, which could further boost its financial stability. However, the timeline for finalizing the private equity deal and the commencement of funds remains uncertain.
