The Big 12 Conference is nearing a deal to infuse the league with funding from a venture capital partner, according to a report from Ross Dellenger of Yahoo.
The Big 12 has reviewed bids from three finalists, with RedBird Capital emerging as the leader, per Dellenger. The Big 12 has been aggressive in its push for independent funding for schools in the league. The eventual venture capital partnership is projected to infuse millions of dollars for schools in the league.
The Big 12 has been forward thinking as the league looks to remain viable amid conference realignment in college athletics. The Big Ten and SEC inked lucrative new television contracts, and the Big 12 has sought ways to remain competitive with the financial windfall of the two conference that have emerged as leaders in power conference athletics.
Funding from venture capital firms has long been rumored as a potential avenue for college athletic programs to pursue, and now it appears to be becoming reality. The news of the Big 12’s pursuit of venture capital funding comes with the House v. NCAA ruling looming, which could bring college athletics into the revenue sharing era in the spring.
