Chad Weiberg confirms Oklahoma State not opting in to credit line through Big 12 private capital deal
Through a private capital deal with RedBird and Weatherford Capital, Big 12 schools can gain access a line of credit. However, no school has publicly said it plans to opt in, and Oklahoma State athletics director Chad Weiberg confirmed the Cowboys also are not doing so. As part of the five-year agreement, the Big 12 […]
Through a private capital deal with RedBird and Weatherford Capital , Big 12 schools can gain access a line of credit. However, no school has publicly said it plans to opt in, and Oklahoma State athletics director Chad Weiberg confirmed the Cowboys also are not doing so. As part of the five-year agreement, the Big 12 will see an infusion of at least $12.
5 million in capital to the league office. Schools can also opt in to receive a capital credit line of $30 million apiece. However, since the conference approved the deal, at least 13 schools have said no, according to USA Today .
SUBSCRIBE to the On3 NIL and Sports Business Newsletter Oklahoma State is among the schools that are not planning to opt in right now, Weiberg said. He cited other potential revenue opportunities if OSU needed them. “RedBird is a huge global entity,” Weiberg said on Inside OSU Athletics .
“They’ve got a lot of partnerships. The conference office will get out of it some money to be able to invest in other business entities, take an investment in those to try to grow revenues from different a revenue stream. That’s something that’s worth exploring in this time that we’re in.