UCF is one of the first schools to publicly address and decline the Big 12’s private equity deal with RedBird Capital, which includes an optional $30 million capital credit line for member schools. The Knights aren’t taking the cash.
Terry Mohajir, in a statement released on Friday, supported the league’s effort for a “new business development partnership with ReBird Capital and the opportunities it creates across the conference,” but said that UCF wouldn’t take part in the optional credit line.
BYU and UCF have each publicly declined to accept the funds since Ross Dellenger broke the news on Wednesday.
Big 12 member schools have a year to decide whether they’ll accept the money, according to Dellenger’s reporting. That cash obviously could boost schools in bankrolling their athletic departments and student-athletes, but it also has legit long-term ramifications for the conference when it comes to television rights.
A future between Paramount and the Big 12 could cement the league’s media footing for the long haul. College football alone is a multi-billion-dollar industry, and the league needs every advantage when it comes to beating the Big Ten and the SEC in the fall.
We’re already seeing the Big 12 become more creative with its distribution of conference games, including an upcoming in-state matchup between Texas Tech, arguably the league’s biggest football brand, and Houston. Even if a large share of members don’t take the money, the Big 12 will still find itself in the pocket of a major player when it comes to landing a television deal.
