The Pac-12 had an offer on the table in 2018 for $1B for 15% of the conference from private equity, valuing each team at $555M (~$700M in 2024 dollars). If the Big 12 accepts $800M for 20%, each school is valued at $250M, a steep haircut for the Four Corners from the 2018 offer.

Sources: The Big 12 is exploring selling its naming right to a title sponsor, with potential revenue being hundreds of millions over the course of the deal. It would be one of the largest commercial deals in collegiate athletics history. (Not including media rights.) pic.twitter.com/bpb54ilic8

Breaking: Big 12 considering private equity investment of up to $1 billion for as much as 20% of conference - CBSSports.com www.cbssports.com/college-football/news/big-12-considering-private-equity-investment-of-up-to-1-billion-for-as-much-as-20-of-conference/

Any new Big 12 revenue from PE investment, selling conference naming rights, etc., would place even more pressure on the schools to make smart decisions with their cash. I'm sure that won't be a problem.