Big 12 lands $100 million deal with PayPal as part of athlete payment rollout

In a first-of-its-kind partnership, the Big Ten and Big 12 have teamed up with PayPal and Venmo to become the official platforms for distributing revenue-sharing payments to student-athletes—marking a major shift in the future of college sports finance. The announcement comes ahead of the July 1 launch of athlete revenue sharing, triggered by the landmark, multi-billion-dollar House v. NCAA settlement.

How This Works

Under the new agreement, schools in both conferences will use PayPal to deliver secure and efficient payments directly to student-athletes, enabling immediate access to funds through PayPal and Venmo’s digital wallets. Student-athletes can then use the money for a wide range of campus-related purchases, from textbooks and tuition to game tickets and food.

“This is about empowering student-athletes and bringing trusted, innovative commerce solutions to the heart of college life,” said PayPal CEO Alex Chriss. “The new revenue-sharing model is a long-overdue shift that gives student-athletes the opportunity to benefit from the value they help generate.”

Total Value For The Conference

The financial impact of these deals is substantial—particularly for the Big 12, whose five-year agreement with PayPal is valued at nearly $100 million, according to CBS Sports. The idea originated in 2024 when PayPal explored naming rights for the Big 12. While the conference ultimately declined a rebrand, talks evolved into this strategic partnership.

“You’re changing behavior in the whole ecosystem right now,” said Big 12 Commissioner Brett Yormark.

“You’re no longer just working with vendors you want real partners. We had to educate our schools on what this looks like, and they all understood the importance of security and reliability in dispersing money. There’s no one better than PayPal. We’ve been in the wild, wild west these last few years with seemingly no organization,” he said. “We need a reliable platform to distribute money to our student-athletes. This partnership starts to put some of those guardrails in place.”

The agreement also includes plans for custom Venmo debit cards featuring college logos, making the financial tools both functional and personal for student-athletes. “We’re enabling this whole ecosystem to work moving forward,” Chriss added. “It brings a sense of regulation, or at least organization, to what’s been a very chaotic space.”

Beyond Athletics

The collaboration goes far beyond athlete payments. PayPal will become a preferred tuition payment method at select universities starting in 2026, and Venmo will become deeply embedded in campus culture. Venmo will serve as the presenting sponsor of the newly created Big Ten Rivalry Series and will be an official partner of Big 12 championship events across football, basketball, and Olympic sports.

With more than 64 million active users, Venmo is already a staple among college students. Now, they’ll be able to use it for everyday campus purchases, including merchandise, concessions, ticketing, and more. Students using the Venmo Debit Card will also have access to cashback rewards and flexible payment features.

When Does This Start?

The rollout begins this summer, with the first athlete payments set to go out on July 1. Sponsorship and commerce activations for Venmo will launch with the start of the 2025–26 football season.