The Ultimate Rejection: Memphis Reportedly Offered The Big 12 A $250 MILLION Deal To Join The Conference, Still Got Turned Down

[Source] - The proposal from Memphis — one of the most aggressive membership propositions in college athletics history — features hundreds of millions of dollars in sponsorship commitments to the Big 12 from UM-affiliated corporate partners, as well as the school eschewing revenue distribution from the league for at least five years.

This particular effort began more than a year ago. Memphis president Bill Hardgrave has spent at least 14 months visiting with the presidents and top athletic administrators of many Big 12 schools in individual, on-campus meetings that have culminated in a membership offer to the league that is expected to be as high as $200 million over the next five years.

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

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.

Let's just think about this for a second. We live in a world where college sports is all about money. Teams trying to position themself to make money, players transferring and negotiating deals, conferences constantly changing so they can make money. Then you have Memphis trying to make a $250 MILLION, no-risk deal to the Big 12 and they turn them down again. Hilarious and embarrassing all wrapped into one. Gotta hand it to Memphis for trying to play it off cool: 

Everyone knows Memphis has been desperately trying to leave the American. They got turned down the first time by the Big 12, when they opted to take Cincinnati, BYU, Houston and UCF instead. Memphis is basically the last one out there without a date to the dance. They are getting desperate and starting to think about calling their mom's friends daughter like they keep asking you to. Nobody is bringing in Memphis, leaving them just to be in nowhere with the American, although at least now they have an awesome conference mascot 

That eagle has gotta be worth at least $50 million. But it's true, people are just leaving Memphis out there to rot

Advertisement

Tough to put that out there when this happened a week ago: 

Might need to clean that up first before you talk about the academic improvement. Either way imaging offering someone $250 million, no risk and then being told no. That's as low as it gets. That's getting turned down in front of everyone at the recess yard while your voice cracks. Tough day to be Memphis.