New Team Joining Colorado Buffaloes' Conference? Big 12 Offered Shocking Expansion Deal

After adding eight schools in the past two years, the Big 12 Conference isn't looking to initiate another round of expansion, at least not with the Memphis Tigers.

Yahoo Sports college football writer Ross Dellenger reported Monday that Memphis offered the Big 12 a $200 million deal to join the 16-team conference, marking the most lucrative membership proposal in college sports history. Despite the pretty number, Big 12 leaders are not expected to accept Memphis' proposal, according to Dellenger.

In another report, On3's Brett McMurphy said the Big 12 is "not interested" in what he detailed to be a $250 million deal in sponsorship to the conference. Memphis will remain in the American Athletic Conference for now, but the ACC likely becomes the Tigers' next-best route to the Power Four.

New Team Joining Colorado Buffaloes Conference Big 12 Offered Expansion Deal Memphis Tigers AAC Brett Yormark Realignment — Quarterback Arrington Maiden (7) yells for the ball during a Memphis Tigers football spring game between the blue and gray team on Saturday, April 26, 2025 at Simmons Liberty Bank Stadium in Memphis, Tenn. | Stu Boyd II-The Commercial Appeal / USA TODAY NETWORK via Imagn Images

Last summer, the Big 12 Conference grabbed the Colorado Buffaloes, Utah Utes, Arizona Wildcats and Arizona State Sun Devils from the Pac-12. One year prior, the Houston Cougars, BYU Cougars, Cincinnati Bengals and UCF Knights joined the Big 12 in response to losing the Texas Longhorns and Oklahoma Sooners announcing to the SEC.

“We vetted Memphis when we added the other four (Cincinnati, UCF, Houston and BYU) and chose not to add them,” a Big 12 administrator told Yahoo Sports. “What’s changed now?”

Considering its recent athletic success and monetary support, Memphis' days in the Group of Five are likely limited. The Tigers football program is coming off consecutive double-digit win seasons and has qualified for a bowl game every year since 2014. On the hardwood, Memphis men's basketball has also performed well recently with trips to the NCAA Tournament in three of the past four seasons.

"The University of Memphis is aware of the recent conversations regarding our potential inclusion in the Big 12," the school said in a statement Monday. "While those discussions did not ultimately move in our favor, our University and Memphis Athletics are stronger than ever, and we look forward to continuing our position nationally."

Colorado and Memphis have never met on the gridiron, and a potential future matchup doesn't appear likely following the Tigers' failed attempt to join the Big 12.

For now, the Big 12's best route may be to stand pat with 16 teams. Commissioner Brett Yormark has confidence in the Big 12 sending multiple teams to the College Football Playoff next season, and the conference doesn't lack strength in men's basketball.

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Colorado football is entering its second season back in the Big 12 following a relatively brief stint in the Pac-12. Aided by coach Deion Sanders, the Buffs are one of the conference's biggest brands and should be among college football's most-watched teams again this fall.

"Coach Prime" and the Buffs will open their 2025 campaign against the ACC's Georgia Tech Yellow Jackets on Aug. 29.