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The Big 12 and its members are acting swiftly on integrating the new revenue-sharing settlement into their day-to-day lives.
Thursday morning, money-distributing giant PayPal announced it is partnering with the Big 12 and Big Ten to be the service providers for distributing the revenue-sharing payments from the universities to the student athletes. PayPal's deal with the Big 12 and the Big Ten is valued at nearly $100 million over five years, which comes out to about $1 million per school a year, according to Yahoo Sports reporter Ross Dellenger.
"We're proud to help lead this transformation in college athletics by making it easier and faster for student-athletes to receive funds and continue to bring trusted and innovative commerce solutions to the heart of campus life," said Alex Chriss, President and CEO, PayPal, in a statement. "From receiving institutional payments to making everyday purchases, we're helping student-athletes, families, and schools engage in new ways that are modern, secure, and built for the future."
PayPal said this new partnership ensures the "secure, efficient and transparent distribution of funds from athletic departments to student-athletes." The agreement also partners for everyday payments like tuition, textbooks, concessions, and tickets.
Venmo will also serve as the official partner of the Big 12 Conference across football, basketball, and Olympic sports championships for both men and women, and all athletic events.
"We are thrilled to enter into this landmark partnership with PayPal and Venmo," said Big 12 Commissioner Brett Yormark, per a press release.
"As we embark on a new era of college athletics, aligning with a global leader like PayPal will unlock a wealth of opportunities for the Big 12. This partnership will also empower our student-athletes to receive payments through a secure, trusted platform they already know and use."
This is the first partnership with a payment distribution company since the House vs. NCAA settlement announcement in early June. The settlement allowed universities to pay athletes directly, but under the $20.5 million cap.
This new partnership is set to roll out this summer.
West Virginia's already taken action on the new ruling. Last week, WVU revealed a new initiative called Gold & Blue Enterprise, which was created to increase revenue for the athletics department and be versatile to adapt to trends and changes in the NCAA.
West Virginia football
gains second commitment for class of 2027
West Virginia football's 2026 class is building up, but even a couple of years out, the 2027 class has gained another addition.
Tuesday night, pass rusher Minikon Johnson announced his early commitment to the Mountaineers, joining running back Armand Hill.
The Pittsburgh, Pennsylvania, native received offers from Akron and Kent State and doesn't have a rating yet. The Bishop Canevin pass rusher made the Mountaineers' 2027 class ranked 20th, according to 247Sports, but it is very early, and the Mountaineers are one of the few programs with commitments.
Hill and Johnson's early commitments could be a promising sign of what's to come for the 2027 class.