Why Colorado, other Big 12 schools are saying no to $30 million lifeline

The University of Colorado Boulder has declined to accept a $30 million line of credit option that is being offered to all 16 schools in the Big 12 Conference as part of a private capital deal with the league. Colorado confirmed it May 7, becoming one of the latest Big 12 schools to confirm it is saying no to this resource, which comes at an interest rate of nearly 10%. At least eight other Big 12 schools have declined the option, according to reports , meaning a majority of the league is turning it down.

TCU, Baylor , Houston, Cincinnati, BYU, UCF, West Virginia and Utah also have said they have no plans to take the money even though all schools are challenged financially by the rising costs of paying players and coaches . Big 12 football post-spring rankings: Who benefits most from Texas Tech uncertainty? The private capital option comes from the league's partnership with RedBird Capital and Weatherford Capital, two firms based in New York and Florida.

“The University of Colorado Boulder supports the Big 12’s agreement with RedBird Capital and Weatherford Capital, and we are confident that this agreement positions the conference and its member institutions for success in the current dynamic environment of college athletics,” Colorado said in a statement. “CU Boulder is not opting-in to the capital credit line included in the agreement, and we look forward to learning more about the opportunities contained in this new partnership that can benefit CU Boulder Athletics and our student-athletes. ” Why are Colorado and other Big 12 schools turning down private capital offer?

Like at many other schools, the Colorado athletic department has been reliant on institutional support and student fees to help pay the bills. In fiscal year 2025, Colorado athletics needed $43. 5 million in institutional support from the school to help pay nearly $162 million in operating expenses.