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The Big Ten and Big 12 have partnered with PayPal to become their official platform for distributing revenue-sharing payments to athletes, it was announced Thursday.
The first-of-its-kind partnership in the new revenue-sharing era will allow Big Ten and Big 12 schools to pay players via PayPal starting July 1, when revenue sharing begins as a result of the landmark, multi-billion-dollar House v. NCAA settlement.
The Big Ten and Big 12 figure to benefit substantially financially as a result of the deals.
The Big 12’s agreement is worth nearly $100 million over five years and was born in 2024 after PayPal entered into discussions to buy naming rights for the conference, sources told CBS Sports. The Big 12 opted not to pursue selling its naming rights, but this partnership was the result.
“We are thrilled to enter into this landmark partnership with PayPal and Venmo,” Big 12 commissioner Brett Yormark said in a press release. “As we embark on a new era of college athletics, aligning with a global leader like PayPal will unlock a wealth of opportunities for the Big 12. This partnership will also empower our student-athletes to receive payments through a secure, trusted platform they already know and use.”
“We look forward to partnering with PayPal to ensure a secure, rapid and reliable way for student-athletes to receive institutional payments as we welcome in this new era in college athletics,” Big Ten Commissioner Tony Petitti said.
Additionally, Venmo will serve as the presenting partner of the Big Ten Rivalry Series and will be an official partner for the Big 12’s…
Source link : https://www.cbssports.com/college-football/news/paypal-to-disperse-revenue-sharing-payments-to-athletes-in-big-ten-big-12-will-not-acquire-naming-rights/
Author : Brandon Marcello
Publish date : 2025-06-26 13:54:00
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