The Big 12 Conference is in advanced negotiations with Collegiate Athletic Solutions, backed by RedBird Capital and Weatherford Capital, for a roughly $500 million capital partnership. The proposed deal would provide member schools with a line of credit of about $30 million each and reflects mounting financial pressure across athletics from athlete pay and soaring coaching contracts. The structure—positioned as a growth partnership rather than equity sale—follows earlier failed talks with private equity and broader industry debates about outside capital in college sports. Commissioner Brett Yormark said the league is seeking business growth rather than an outright stake sale; schools view upfront liquidity as a lever to close revenue gaps with richer power conferences.