The Big 12 says it expects record $710 million in gross revenue for fiscal 2026, but the league’s commissioner made clear the widening gap versus the Big Ten, SEC, and ACC remains his No. 1 concern. The number comes as the conference expands full revenue distr
Big 12 Commissioner Brett Yormark walked into meetings in Frisco, Texas on May 29 with a record-setting figure in his pocket: $710 million in projected gross revenue for fiscal 2026.
But the moment he put that number on the table. the other number came to mind just as quickly—the financial distance between the Big 12 and the three richer Power Four leagues. Yormark said the revenue gap is the “No. 1 thing I think about when I wake up,” even as the conference forecasts another year of top-line growth.
The Big 12 estimate for fiscal 2026—ending June 30—marks an increase from $610.9 million in gross revenue reported in its recently filed tax returns for fiscal 2025. which ended in June 2025. That 2025 figure placed the Big 12 a distant fourth. behind the Big Ten at $1.47 billion. the SEC at $1.11 billion. and the ACC at $826.5 million.
How the Big 12’s record revenue still leaves it behind
Yormark’s projection doesn’t just suggest another record year for the conference; it also signals that the gap may be stickier than the headline implies. Revenue for the other leagues is also expected to rise in 2026, keeping the Big 12 “far behind” for the foreseeable future.
One reason the Big 12 can’t quickly close the distance is timing. The leagues’ next major TV reset doesn’t arrive until after the Big 12’s current media deal with ESPN and Fox expires in 2031.
In the same remarks, Yormark framed the challenge in business terms: “We’re doing everything we can,” he told reporters. “You know, there’s a lot of fixed revenue. You think about the conference business. There’s not as much variable revenue as you’d like. but we’re taking as much advantage of the variable pieces of the business as we can. Our commercial business is thriving. Were very aggressive there, and we’re just looking to innovate, find new ways to better resource our institutions. And we’ll continue to push forward in that direction.”.
Inside the conference, that gap matters because it ultimately becomes institutional budgets—money schools use to support athletics, staffing, facilities, and competitiveness.
Fiscal 2026 becomes the first full-share year for all 16 members
The distribution mechanics are changing in the way that makes the $710 million forecast feel immediate. Fiscal 2026 ends June 30 and is the first year in which all 16 Big 12 members receive full revenue distributions from the conference.
Houston. Central Florida. BYU. and Cincinnati joined the Big 12 in fiscal 2024. but they received only half shares of $19-20 million in fiscal years 2024 and 2025. The rest of the league’s members received full shares of $38-43 million in fiscal 2025. including the newer additions Colorado. Arizona. Arizona State. and Utah.
Yormark declined to say Friday what net distributions are estimated to be from the $710 million in gross revenue for 2026. Still, he said members will be “quite a ways back” from the $70-90 million shares the SEC and Big Ten distributed in fiscal 2025.
For schools, that difference isn’t abstract. As Yormark described, this revenue represents a significant part of each school’s athletic budget.
A “safety net” line of credit sits unused
The conference has tried to reduce the pressure created by the gap, including by leaning on outside capital. The Big 12 has a deal with private capital companies Redbird Capital and Weatherford Capital that includes an option for each school to obtain a $30 million line of credit.
No school has publicly accepted that offer. Yormark said Friday he wasn’t aware of any school that had, adding that the interest rate is nearly 10%, a level that has made schools hesitate.
“Having access to capital is always a good thing. and we look at that as a safety net for schools when and if they want to do it. ” Yormark said. “And they have a year to tap into it. And we all know things change in our ecosystem pretty quickly. Although they might not want it today, that might be different in six months or 12 months. So we’ll wait and see.”.
The sequence is easy to follow: record projected gross revenue in 2026. full revenue shares for all 16 members starting that year. and a financial tool designed to blunt risk—yet still no use of the credit option publicly. The result is a league pushing for growth while acknowledging that its core economic gap isn’t closing on a timetable that most schools can control.
Why Yormark and Kansas State’s president remain bullish
Even with the acknowledged shortfall, Yormark said he remains bullish on the league’s future. “There has never been a better time than right now to be part of the Big 12,” he said.
Kansas State president Richard Linton echoed that message Friday. “The Big 12 is a force to be reckoned with,” Linton said. “And our future, we feel, is very strong.”
Big 12 revenue 2026 Brett Yormark NCAA finances college athletics budgets Big Ten revenue SEC revenue ACC revenue ESPN Fox TV deal expires 2031 Big 12 distributions Redbird Capital Weatherford Capital $30 million line of credit
So they’re making 710 million but still “far behind” like ok… everybody relax lol
I don’t get why Big 12 can’t catch up if they’re already getting record revenue? Sounds like they just don’t manage money right. Also 2031 tv reset… that feels forever
Wait, is the 710 million gross or like what actually goes to the teams? Cuz if it’s gross, then it’s not the same as Big Ten getting actual cash. This article lost me when it said “stickier than the headline implies” whatever that means
Brett Yormark says it’s the No. 1 thing he thinks about—so basically he wakes up mad about other conferences? Meanwhile I’m just trying to figure out why TV deals are always the culprit. If Big 12 had better teams or more fans then the money would follow, no? (unless that’s not how it works)