Brett Yormark Finally Guides Big 12 Into a Deal with Private Equity Firm
STILLWATER – In a deal that has been in the works since December, the Big 12 has closed on a private capital deal with Collegiate Atheltic Solutions. The finalization of the venture was first reported by Yahoo Sports on Wednesday (April 29). That is when the Big 12 and it’s board voted to approve the deal that is a 50/50 with RedBird Capitol, a company that had been in on this negotiation since the beginning and Weatherford Capital, which came on board.
The five-year agreement between the conference and the private equity firms will immediately infuse the Big 12 with $12.5 million in capitol. That money goes directly to the Big 12 office. Member schools in the Big 12 can opt in to the agreements financially and receiver a line of credit for as mush as $30 million each. It is not known which schools have opted in or are considering the move. That includes Oklahoma State, which is said to be moving toward an end to the fiscal year with the most depth the athletic department has incurred in decades.
That is not a slam or criticism. Many schools, some normally flush with money have seen costs rise signifcantly with the new $20.5 million revenue share and increased scholarship costs and added recruiting costs with the transfer portal. Oklahoma State also saw the end of the tenure of long-time successful head coach in football in Mike Gundy. His buyout over the next three years adds up to $15 million. However, there were a lot of other costs in hiring Eric Morris and his staff and paying off the former staff and their contracts.
It was recently revealed that Oklahoma State university athletics director Chad Weiberg signed a new four-year deal that was first offered in October of 2025. The contract pays Weiberg the same $750,000 salary annually with some incentive bonuses. It also allows for the University to fire Weiberg with cause if the athletic department ends a fiscal year without a balanced budget and with the department not increasing it’s revenue over the previous year.
Accepting the $30 million capitol credit along with the expected revenue coming from the Big 12 Conference at the end of May could put Oklahoma State much closer and possibly even balance the budget. That line of credit and the money would come with a decided cost in the future. That is the way private equity funding works.
Big 12 member University of Utah signed a deal with Otro Capital earlier in 2026. That deal is said to infuse up to nine figures in cash and create a for-profit entity, Utah Brands and Entertainment.
At the Sports Business Journal Intercollegiate Athletics Forum, Big 12 Commissioner Brett Yormark gave a positive opinion on the future and a deal with private equity and how it could benefit Big 12 members.
“We are not in the private equity business,” Yormark said. “We believe that the trajectory of our conference is terrific. We’ve got a lot of growth. We don’t want to share that. Having said that, strategic alliances, whatever they look like, that help us create value for our member institutions is something I sign up for.
“PE as we all think about is something that is not in the cards, but a strategic partnership that helps to create value, that helps to drive our business forward is certainly something that we will continue to explore.”
