Why the Big 12 wants schools like KU & K-State playing in international games
With the Big Ten considering a private equity deal to support its members in college sports’ new financial frontier, another conference provided a reminder of where it stands on an option it once considered.
“Private equity for us doesn’t work for us,” Big 12 commissioner Brett Yormark said. “We’re very bullish on our future. We’re not giving a stake to anyone.”
Last week, Big Ten presidents did not take a vote on private equity. A University of California pension fund would receive a 10% stake in media rights and sponsorship deals in exchange for a cash infusion of over $2 billion to conference athletic departments. The deal also would extend the league’s grant of rights until 2046.
In 2024, the Big 12 considered a cash infusion of $1 billion for its schools in exchange for a 15-20% stake in the league.
Additional cash seems like a great idea for college athletic departments these days. Schools have to manage the impact of paying players through the House settlement, which allows them to share revenue directly with athletes with an initial cap of $20.5 million per school.
But Yormark said at Big 12 women’s basketball media day at T-Mobile Center that the league will look elsewhere, and a long-term response could be a bigger international presence.
This school year, Kansas State and Iowa State opened the college football season in Ireland. Next season, TCU will play there and Kansas and Arizona State will take their football game to Wembley Stadium in London.
Baylor’s women’s basketball team opens this season against Duke in Paris. Yormark sees cultural and financial potential in international games.
“It globalizes our conference, our brand, our narrative,” Yormark said. “I want to monetize our international TV rights — it’s something we currently give away — as we become more globally relevant over the next six years before we go back into the marketplace.”
Some Big 12 games are televised by DAZN, a British sports streaming service that has an agreement with ESPN to show games in Europe.
ESPN and Fox hold the Big 12’s media rights. The deal worth $2.28 billion runs through the 2030-31 season. The league recently sub-licensed games to CBS, Turner (TNT) and Peacock, the NBC streaming service. There will be 18 men’s basketball conference games on Peacock this season.
Schools are paid annually from the conference’s media rights agreements. The Big 12 distributed a record $588 million to its schools for 2024-25.
This story was originally published October 21, 2025 at 3:47 PM.