Big 12 reportedly rejects Memphis' $250 million pitch for conference spot

Despite offering a staggering $250 million in sponsorship commitments, Memphis will not be joining the Big 12, according to On3. The school’s bold attempt to buy its way into a Power Four conference has reportedly been met with firm disinterest from league officials.

Yahoo Sports first broke the story of Memphis' unprecedented pitch, which included corporate sponsorships from university-affiliated partners and a willingness to forgo revenue sharing for several years.

The proposal was one of the most aggressive membership efforts in college athletics history, aiming to secure a spot in the Big 12 after being passed over in earlier rounds of expansion.


However, sources indicate that the Big 12's stance hasn't changed much since its previous evaluation of Memphis. The conference, which added Cincinnati, UCF, Houston, and BYU from the American Conference in its last round of expansion, does not appear ready to revisit the Tigers as a viable candidate.

The Big 12 also explored expansion with Gonzaga and UConn, but neither garnered the supermajority support needed for admission. That remains a critical hurdle, as any new member requires backing from 12 of the 16 university presidents and chancellors.

For now, Memphis remains on the outside looking in, with its hopes of Power Four membership seemingly on hold - despite putting forward one of the most financially aggressive proposals in recent memory.

"We vetted Memphis when we added the other four (Cincinnati, UCF, Houston and BYU) and chose not to add them," said one Big 12 administrator to Yahoo. “What’s changed now?”

As the report highlights, Memphis is the latest school to make a bold, unprecedented push for a spot in a Power Four conference. Their approach mirrors that of SMU, which joined the ACC after agreeing to forgo league revenue initially.

Memphis faces a reported minimum $25 million exit fee to leave the American Conference. However, school officials have indicated they plan to share the full $20.5 million in revenue with their athletes next year - a detail they’ve communicated to the Big 12 in hopes of strengthening their case.