Overview

• The Big 12 Conference voted down Memphis’s proposal, falling short of the 12 affirmative votes required for admission.
• Memphis offered a “no-risk” package that would deliver up to $200 million in corporate sponsorships over five years and waive its share of media revenue during that period.
• The proposal included an exit clause allowing the conference to expel the Tigers after the 2030-31 season if they failed to “add value.”
• FedEx, Lowe’s and AutoZone had committed to underwriting the sponsorship funds behind Memphis’s bid.
• After confirming the rejection, Memphis officials said they are now considering a basketball-only move to the Big East and reengagement with the rebuilt Pac-12.