The Big 12 and Big Ten have formed a partnership with PayPal to establish an official revenue-sharing platform for athletes. This landmark agreement will see nearly $100 million directed to Big 12 schools over the next five years. The collaboration includes brand endorsements with several Big 12 athletes and sponsorship of the Big 12 Championship Game.

This innovative partnership aligns with the recent settlement in the House vs. NCAA case, allowing greater financial compensation for college athletes through PayPal’s systems. As PayPal’s Chief Marketing Officer Geoff Seeley noted, “About 50% of students at these schools are already on Venmo, the need for a payment partner was critical to facilitate these transactions smoothly.”

Big 12 Commissioner Brett Yormark emphasized that the partnership signals a shift towards collaboration rather than transactions, highlighting the importance of solid business relationships in college athletics today.

Additionally, CEO Alex Chriss mentioned ongoing discussions for future partnerships, indicating that they aim to integrate Venmo more deeply into the college experience, benefiting both businesses and students alike.