MEMPHIS, TN. – As cool as it may be, unfortunately having the Bass Pro Pyramid doesn’t always pay off.
The University of Memphis has made one of the most ambitious overtures in recent conference realignment, offering up to $250 million to join the Big 12, but so far has failed to secure the backing from the league’s leadership.
What Memphis Proposed
- A deal valued at as much as $200 million over the next five years, backed by UM-affiliated corporate sponsors like FedEx and AutoZone
- The Tigers pledged to forgo all Big 12 revenue distributions during that period.
- The proposal was positioned as a “no‑risk” opportunity: sponsoring schools would gain revenue without paying inclusion rights, and Memphis would open the door to expulsion after 2030 if the fit was poor
For over a year, Memphis President Bill Hardgrave engaged in campus‑by‑campus lobbying, meeting with presidents and ADs across the conference to build momentum.
Why the Big 12 Isn’t Biting
Despite the staggering financial incentive, the Big 12’s governing board, needing a supermajority (12 of 16) approval, has not coalesced around the offer.
The league previously vetted Memphis alongside Cincinnati, UCF, Houston, and BYU, yet chose not to include them.
Treating Memphis as a latecomer or “G5 top dog” may hold limited sway, especially when adding a 17th team complicates scheduling and dilutes revenue.
Memphis would also need to pay an exit fee of about $25 million to leave the American Athletic Conference.
What It Means for Memphis & the Big 12
- For Memphis, the offer reflects a growing strength in both athletics and sponsorship, with football improving to 21–5 overall over two seasons and a solid basketball reputation.
- For the Big 12, the decision hinges on strategic patience. Adding a 17th member could disrupt scheduling, reduce per‑school payouts, and doesn’t guarantee a broader TV market.
- Conference insiders speculate the Big 12 may be waiting on potential ACC attrition (schools like Louisville, NC State, Syracuse) before expanding.
Bottom Line
Memphis has thrown the biggest financial offer the Big 12 has ever received from a G5 school, leveraging sponsorships, waiving revenues, and even accepting future expulsion. Yet with no current consensus from the conference’s presidents, the bid appears stalled.
The Tigers’ pursuit underscores the ongoing scramble for stability and prestige in the reshaping world of college athletics. Whether they can turn this into a lasting Power Five invitation, or use it as leverage in a different direction, remains uncertain.
