Present position:Big 12 considering private equity investment of up to $1 billion for as much as 20% of conference >>Text
Big 12 considering private equity investment of up to $1 billion for as much as 20% of conference
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Big 12 considering private equity investment of up to $1 billion for as much as 20% of conference
The proposed deal with a Luxembourg-based firm would bring a massive influx of cash to the league
By Dennis Dodd • 5 min readBig 12 members are considering a first-of-its kind private equity investment to ensure the league's long-term financial and competitive security, multiple sources tell CBS Sports.
On the table is a possible cash infusion of $800 million to $1 billion from Luxembourg-based CVC Capital Partners in exchange for a 15% to 20% stake in the league, those sources said. A portion of the money would go directly to the 16 conference members, and the partnership would give the conference access to CVC's investment services and clients.
CVC is a global private equity giant that manages over $200 billion in investments worldwide, according to its website. The firm made a presentation to the league at the recent Big 12 spring meetings in Dallas.
While one source described the talks as "pretty serious," many league presidents need further convincing. Persons who spoke with CBS Sports preferred to remain anonymous due to the sensitive nature of the discussions.
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