Brett Yormark has never been shy about exploring unconventional revenue streams for the Big 12. But after a year of conversations, the league is hitting pause on one of its boldest ideas yet: selling a stake to private equity.
In a Q&A with Front Office Sports, the Big 12 commissioner confirmed the conference has decided not to move forward with private equity funding—at least for the time being.
“We spent the last 12 months educating ourselves,” Yormark said. “We’ve met with a lot of people in the space. But right now, we’re not ready.”
That “not yet” is telling. Yormark didn’t shut the door on outside investment, only acknowledged that the board isn’t ready to pull the trigger. The same goes for talks about selling naming rights, which are also “on pause.”
“There’s a lot of equity in the Big 12 name. We recognize that,” Yormark added. “We’re continuing to evaluate that space. We’re being a bit more thoughtful now.”
The move comes as the financial arms race in college athletics accelerates. With revenue sharing on the horizon and the SEC and Big Ten pushing for CFP dominance, conferences like the Big 12 are exploring every tool available to stay competitive. Private equity was floated as a way to secure long-term capital—but also raised serious questions about governance and control.
Still, Yormark made clear the Big 12 isn’t abandoning innovation. Just being deliberate.
“I’m a big believer in pushing the envelope and trying new things,” he said. “But I also believe in timing.”
In other words: don’t confuse the pause for retreat. The Big 12 might not be selling a stake today—but tomorrow’s still on the table.
