Alright, college football fanatics, buckle up because Memphis is swinging for the fences with a jaw-dropping $250 million offer to join the Big 12, and I’m here to break it down like I’m yelling at a ref over a bad call. The Tigers, that gritty squad from the American Conference, are trying to muscle their way into the Power Four with a deal so bold it’s like they walked into a casino and bet the house. But the Big 12? They’re acting like they don’t even see the stack of cash on the table. Let’s dive into the chaos—who gets the money, when Memphis would join, what’s up with their stadium, and if they’re even Big 12 ready. Spoiler: it’s a wild ride.
First, the cash. Memphis, backed by heavy hitters like FedEx, Lowe’s, and AutoZone, is dangling up to $250 million in sponsorships over five years to sweeten the pot for the Big 12. That’s not pocket change—that’s $2.3 million extra per school annually for the 16 Big 12 members, like Kansas State, Baylor, or TCU, to split up and pocket. On top of that, Memphis is ready to skip out on any media rights payouts from the Big 12’s ESPN and FOX deal for five years—basically saying, “We’ll pay to play, and you keep your TV money.” They’re even willing to cough up a $25 million exit fee to ditch the American Conference. Oh, and get this: they offered an escape clause—if the Big 12 thinks Memphis isn’t pulling its weight by 2030-31, they can kick the Tigers out, no hard feelings. That’s like proposing marriage but saying, “Divorce me in five years if I’m not your type.” Straight-up gangster move.
When would Memphis join the party? The timeline’s murky, but the proposal was pitched as an immediate move, with Memphis ready to jump ship from the American Conference as soon as the Big 12 gives the green light. They’ve been working this deal for 14 months, with Memphis president Bill Hardgrave glad-handing Big 12 presidents and ADs like he’s running for office. The pitch hit its peak in early July 2025, with Big 12 presidents meeting on July 21 to chew it over. Problem is, they need 12 of 16 schools to say yes, and right now, it’s a hard no. If the Big 12 ever softens up, Memphis could slide in as early as the 2026-27 season, assuming they sort out the exit fee and logistics. But don’t hold your breath—the Big 12’s acting like they’re too cool for school.
Now, let’s talk about Simmons Bank Liberty Stadium, Memphis’ home turf. The Tigers broke ground in August 2024 on a $220 million, three-phase renovation to turn their venue into a Power Four-worthy cathedral. We’re talking fresh paint, slick visuals, and amenities that scream “big time.” The first phase is already rolling, with upgrades like new turf and better fan experiences, all aimed at making the stadium look like it belongs in the Big 12’s club. Back in 2022, then-AD Laird Veatch said the reno was a deliberate flex to catch the eye of power conferences, and it’s no coincidence Memphis is pushing hard now while the construction cranes are humming. By 2026, when the project’s further along, the stadium should be a legit showpiece, with a capacity of 58,000 and a vibe that can hang with the likes of Iowa State or West Virginia. Plus, they share FedExForum with the NBA’s Grizzlies for hoops—a top-tier arena that’s already Power Four caliber.
So, is Memphis Big 12 ready? Hell yeah, they are. On the field, the Tigers are no slouches. Under coach Ryan Silverfield, they’ve gone 21-5 over the last two seasons, including bowl wins over Big 12 teams Iowa State and West Virginia. That’s 11-2 in 2024, good enough for No. 24 in the final AP poll. Their basketball program, led by Penny Hardaway, is a national brand with three Final Four trips (even if two got vacated) and seven straight 20-win seasons. Off the field, Memphis is a top-50 TV market with 1.35 million people, and their corporate sponsors are ready to dump truckloads of cash into the Big 12. They’re already planning to share $20.5 million in revenue with athletes next year, thanks to a massive FedEx gift, showing they can hang in the new revenue-sharing era. The only knock? Some Big 12 suits worry Memphis might “dilute” their TV deal value, and a recent NCAA probe into academic misconduct with their basketball team didn’t help. But let’s be real—Memphis is bringing more to the table than half the current Big 12 roster.
The Big 12’s rejection stings, though. They vetted Memphis back when they grabbed Cincinnati, UCF, Houston, and BYU in 2023 and said, “Pass.” Now, with 16 teams and extra cash from a PayPal sponsorship, they’re acting like they don’t need Memphis’ $250 million or their 11-win football team. It’s like turning down free pizza because you’re “full.” The Big 12’s worried about scheduling headaches with a 17th team and whether Memphis adds enough TV eyeballs to justify the move. Meanwhile, Memphis is left twisting, with the Pac-12 sniffing around for a football-only deal and the Big East eyeing their basketball program. But let’s not kid ourselves—Memphis wants the Big 12 or ACC, not a half-baked Pac-12 deal that’d have them flying 20,000 miles for games.
This is college sports in 2025—a money-grubbing circus where the Big Ten and SEC are printing cash, and the Big 12’s trying to keep up. Memphis is out here offering $250 million like it’s a PowerPoint presentation on Shark Tank, and the Big 12’s like, “Nah, we’re good.” It’s a gut punch, but Memphis ain’t done. They’ve got the stadium upgrades, the wins, and the corporate muscle to keep knocking. The Pac-12 might be Plan B, but the Tigers are hell-bent on a Power Four spot, and I’d bet my last slice of pizza they’ll get there by 2030. Keep your eyes peeled—this story’s far from over.