Wolverine Digest

Big Ten announces historic partnership with Venmo and PayPal to distribute revenue share funds to student athletes

The partnership with Venmo and PayPal, the two largest money-sharing companies in the world, ushers in a unique way of disbursing revenue share dollars
Jerred Johnson|
Big Ten commissioner Tony Petitti . Mandatory Credit: Melissa Tamez-Imagn Images
Big Ten commissioner Tony Petitti . Mandatory Credit: Melissa Tamez-Imagn Images | Melissa Tamez-Imagn Images

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PayPal and Venmo recently released statements announcing multi-year deals with two of the biggest conferences in college sports. The two money-sharing platforms have agreed to partner with the Big Ten and Big 12 as a conduit for disbursing revenue-sharing dollars to their student-athletes. Revenue sharing, which began on July 1st, came to fruition under the newest House ruling. For the first time in collegiate sports history, universities can directly compensate their student-athletes via a revenue-sharing model.

What was not discussed within the House ruling was how that money would be
paid out. According to Big 12 commissioner Brett Yormark, of the 19.8 million student athletes in the United States, over half utilize Venmo. From there, the partnership between the two influential conferences and PayPal and Venmo was a no-brainer.

Here is what Big Ten commissioner Tony Petitti had to say about the historic and groundbreaking partnership.

"We look forward to partnering with PayPal to secure a rapid and reliable way for student-athletes to receive institutional payments as we welcome in this new era in college athletics."
Big 10 commissioner Tony Petitti

Partnering with platforms that athletes know, trust, and frequently utilize is a genius move. It brings a level of comfort to the young athletes and is also a terrific way to meet them on their level. Big props to the Big 12 and Big Ten commissioners for their forward-thinking and preparation as the revenue-sharing era begins on July 1st.

Big Te
An inflatable Big Ten Conference logo | Ben Lonergan/The Register-Guard / USA TODAY NETWORK via Imagn Images

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Jerred Johnson
JERRED JOHNSON

Jerred Johnson has served in the United States military for over 23 years. He has a Bachelors in Marketing, a Masters in Management and is in the final phases of completing his Doctorate in Business Administration.

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