The Big Ten and Big 12 have partnered with PayPal to become their official platform for distributing revenue-sharing payments to athletes. The hefty new deal involves brand partnerships with several Big 12 athletes, as well as sponsorship of the Big 12 Championship Game.
The first-of-its-kind partnership in the new revenue-sharing era allows Big Ten and Big 12 schools to pay players via PayPal’s products as a result of the landmark, multi-billion House vs. NCAA settlement. In the days after the new rules have gone into effect, millions of dollars have already flowed through PayPal’s servers to athletes.
“About 50% of students at these schools are already on Venmo,” PayPal chief marketing officer Geoff Seeley told CBS Sports. “Then these guys needed the support of a payment partner to enable NIL and rev share. It’s a marriage made in heaven… literally millions of dollars moved from schools to athletes seamlessly at rapid speed, incredibly within hours of the announcement coming out.”
The Big Ten and Big 12 figure to benefit substantially financially as a result of the deals. The Big 12 will receive nearly $100 million over five years as a result of the partnership, sources tell CBS Sports. The discussions initially started as the brand considered purchasing naming rights for the conference. The Big 12 opted eventually elected not to sell, instead agreeing to this partnership.
“You’re changing behavior in the whole ecosystem right now,” Big 12 commissioner Brett Yormark said. “You’re no longer working with vendors, but you really want partners in this new age of collegiate athletics. So we had to educate [our schools] a little bit on what a partnership with PayPal and Venmo would look like. But they all got on board. They understand that…
Source link : https://www.cbssports.com/college-football/news/big-12s-revenue-sharing-distribution-deal-with-paypal-includes-expanded-financial-partnership/
Author : Shehan Jeyarajah
Publish date : 2025-07-14 21:06:00
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