Big 12 closing in on private equity partner decision

Big 12 presidents and athletic directors met Thursday to review three final bids as the conference closes in on identifying a capital partner, a source told On3. RedBird Capital, whose sports portfolio includes Italian soccer club AC Milan, French soccer team Toulouse, and 10% of Fenway Sports Group, is viewed as a leader, a source told On3. Yahoo! Sports first reported the news. Last June, news broke that the Big 12 was considering a private equity investment with a cash infusion of $800 million to $1 billion from Luxembourg-based CVC Capital Partners in exchange for a 15-20% stake in the lea…

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