Memphis proposes $200 million bid for Big 12 conference membership
- Memphis has proposed a substantial offer to the Big 12 aimed at joining the conference.
- The proposal involves financial commitments from corporate partners and a willingness to forgo revenue distributions.
- However, approval for Memphis's entry requires a super majority support, which is currently lacking.
In an effort to leave the American Athletic Conference, Memphis has made a substantial proposal to the Big 12, amounting to $200 million over the next five years. This offer was reported by Yahoo Sports’ Ross Dellenger and reflects Memphis's determination to strengthen its position within collegiate athletics. Memphis president Bill Hardgrave dedicated over a year to developing this proposal, which included meetings with officials from various Big 12 institutions to garner support for the entry. However, a significant complication lies in the requirement for conference expansion approval. The Big 12 needs a super majority support, specifically the backing of 12 out of its 16 presidents or chancellors. As of now, there seems to be insufficient league-wide support for Memphis's invitation. Big 12 officials are still exploring the proposal, and the situation could change as discussions progress. To finance this ambitious offer, Memphis is banking on commitments from corporate sponsors, including significant local partners such as FedEx, Lowe’s, and AutoZone. Additionally, Memphis has proposed to forgo its share of the Big 12’s revenue distribution for at least the next five years, indicating a willingness to invest heavily in what they perceive as a strategic move for the future of their athletic programs. Despite their aggressive posture, Memphis faced challenges during the last round of conference realignment when the Big 12 added Cincinnati, UCF, Houston, and BYU from the American Conference. Memphis was among the candidates considered at that time, but ultimately, they were not selected, leading to their current bid for entry. An exit fee from the American Conference is also anticipated to be at least $25 million, which adds another layer of financial obligation for Memphis as they aim to transition to the Big 12. If their bid is successful, Memphis would leave the American Conference with 13 teams, while the Big 12 would grow its membership to 17 programs.