BIG 12 commissioner announces historic partnership with PayPal and Venmo
With the historic House ruling that allows universities to pay their student-athletes via a revenue-sharing model, shaking up college athletics, the Big 12 is leaning into a unique partnership. Lost in the excitement and hoopla surrounding the ruling was the question of how those payments would be made. Direct deposit? Checks sent or picked up by athletes? Well, the BIG 12 commissioner, Brett Yormark, has come up with a unique and innovative way of paying athletes in his conference. He recently announced a partnership with the two biggest money-sharing platforms, PayPal and Venmo.
Commissioner Brett Yormark and @PayPal CEO Alex Chriss sat down with @SquawkCNBC earlier today to discuss the details of a historic partnership that will bring PayPal and Venmo to each college campus in the Big 12 Conference. pic.twitter.com/f0i4PtQQp9
— Big 12 Conference (@Big12Conference) June 26, 2025
Yormark appeared on CNBC's "Squawk Box" to discuss the partnership and how he conceived the incredibly forward-thinking idea.
"There has never been a better time than right now for collegiate athletics, for all the right reasons. There was a landmark settlement recently where, for the first time, starting on July 1, we will be revenue sharing with our student athletes...as we usher in a new age for collegiate athletics and our student athletes, we are incredibly excited about it. Over the last 14 months, we have been on an incredible journey with PayPal, trying to figure out where they could enter the ecosystem. With rev share and how ubiquitous PayPal and Venmo are in the on campuses and collegiate athletics lives of our student athletes it made incredible sense to have them partner with us as we pay our student athletes. When you think about Venmo and PayPal the first and second most popular mobile payment apps in the US, there are 400 million customers globally, when you think of consumers and merchants. So, it made so much sense given how they already infuse student life. I was given a number there are 19.8 million student athletes across the country and almost half currently use Venmo and we needed a partner that was trustworthy, and we found it with PayPal and Venmo."BIG 12 Commissioner Brett Yormark
What a fantastic partnership that brings ease and comfort to the payment of the BIG 12 athletes. Kudos to Commissioner Yormark and his team for trailblazing such an innovative idea that puts the BIG 12 in the national spotlight.
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-e01c17fcdae4e0dd656bdc7ca6585efc-53691679a614377a6a1b52f78beac8fb.jpeg "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.