"Smart business move": Fans thrilled by Brett Yormark's $100M move to build new framework for revenue-sharing model

College football fans are happy with Brett Yormark and the Big 12 deal with PayPal.

The Big Ten and Big 12 partnered with PayPal to become their official platform for distributing revenue-sharing payments to athletes. The deal will allow schools to pay their players through PayPal, and the Big 12's agreement is worth nearly $100 million over five years.

After the deal was announced, college football fans were thrilled by it.

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"If I’m reading the press release correctly, Paypal have essentially secured all of the payment activity from schools to player + the associated funding within their platform. Players will then use their platform to spend their money. I can see the extra value for Paypal!" a fan wrote.

"Smart business move!" a fan added.

The deal is part of the revenue-sharing model between the NCAA and college athletes.

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"Why don’t schools transfer the $ directly into players checking account, just like their stipend? Do kids have to pay a fee to PayPal to transfer from the debit card to their checking account?" a fan added.

"Wonder what cash apps bid was?" a fan wrote.

The deal started after PayPal entered into discussions to buy naming rights for the Big 12. But the conference didn't want to sell its naming rights, which resulted in this partnership.

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"Pretty good deal for the schools here," a fan wrote.

"This is very interesting," a fan added.

The deal will pay each Big 12 school around $1 million per season for the five-year agreement.

Big 12 commissioner comments on PayPal agreement

After the revenue-sharing agreement was made, Big 12 Commissioner Brett Yormark commented on the deal.

Yormark believes dispersing money in the revenue-sharing era of college sports was key for the Big 12 and college teams.

"You're changing behavior in the whole ecosystem right now," Yormark said, via CBS Sports. "You're no longer working with vendors, but you really want partners in this new age of collegiate athletics.

"So we had to educate [our schools] a little bit on what a partnership with PayPal and Venmo would look like. But they all got on board. They understand that dispersing money needs to be done with a partner that can deliver security and reliability, and there's no one better in the industry."

PayPal CEO Alex Chriss told CBS Sports that the company is in talks with other conferences for a similar deal.

About the author

Cole is an NHL, NFL and College Sports reporter at Sportskeeda with over 7 years of experience writing for publications like CBC, USA Today, SMG, BJPENN, Sherdog and SB Nation.

An NHL fan his whole life, Cole played rep hockey in Canada from age 5 until 17 and grew up rooting for Martin St. Louis and the Tampa Bay Lightning. His all-time favorite players are Vincent Lecavalier and Steven Stamkos, while Jon Cooper is his favorite coach of all time.

Cole attended Sheridan College and received his journalism degree in 2019. After decades of watching and reporting, he considers his knowledge of sports as his primary strength. He ensures that the same story has been reported by at least two reputed reporters before creating it.

Cole enjoys playing golf and spending time with friends and family when not reporting breaking stories. His favorite sports moment is from the 2010 Olympics, when Sidney Crosby scored the golden goal in overtime to beat Team USA for the gold medal.

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Edited by Cole Shelton