Memphis Reportedly Makes $200M Offer to Join Big 12, League Not Interested

Memphis has reportedly made a "membership offer" to join the Big 12 "that is expected to be as high as $200 million over the next five years," according to a report from Ross Dellenger of Yahoo Sports and Nicole Auerbach of NBC Sports.

Both reports indicated that Memphis does not currently have the needed support to join the conference, however.

"I'm not certain it has enough support," a Big 12 leader told Dellenger.

"We vetted Memphis when we added the other four [Cincinnati, UCF, Houston and BYU] and chose not to add them," another Big 12 administrator added. "What's changed now?"

As Dellenger noted, what perhaps changed was the lucrative offer Memphis brought to the table this time around, leading to "weeks of exploration from the conference" over the possibility of adding the Tigers. Such an addition would require support from 12 of the 16 presidents and chancellors, and that has proven difficult for other schools vying for a spot in the league over the past 18 months, namely Gonzaga and UConn.

According to Dellenger's report, "Memphis' proposal is described as a 'no-risk' concept, according to some in the Big 12, and it also sets a standard, perhaps, of expansion fees to enter a league. The school would: Take zero distribution for the final five years of the league's new television deal with ESPN and FOX; add the sponsorships in excess of $150 million over five years; and subject itself to expulsion after 2030-31 if Big 12 deems it is not adding value."

It's clear that Memphis is desperate to leave the ACC and join a more prominent conference, even with the caveat that it would incur a $25 million exit fee. Whether the Big 12 ultimately bites on the offer remains to be seen, though for now it would seem the interest isn't there.

Currently, the Big 12 is comprised of Arizona, Arizona State, Baylor, BYU, Cincinnati, Colorado, Houston, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, Texas Tech, UCF, Utah and West Virginia.

The league poached Arizona, Arizona State, Colorado and Utah from the Pac-12 in its latest round of expansion in 2024 after losing powerhouses Texas and Oklahoma to the SEC. One year prior, Cincinnati, UCF, Houston and BYU were added.