The University of Cincinnati athletics department has officially opted out of the Big 12's capital credit line, joining a growing list of member schools declining the financial opportunity. This decision, announced Wednesday, May 6, makes UC the sixth Big 12 program to pass on the $30 million loan offered through the conference's strategic partnership with RedBird Capital and Weatherford Capital.

"We appreciate the Big 12's continued focus on innovation and identifying creative ways to generate new revenue opportunities," said UC Director of Athletics John Cunningham. "At this time, Cincinnati does not plan to utilize the investment credit option."

The capital credit line was designed to help schools manage rising payroll costs tied to revenue sharing, particularly following the House vs. NCAA settlement that took effect last July. Private investment firms like RedBird Capital are betting on the potential for bigger media rights deals down the road—the Big 12's current $2.28 billion agreement with ESPN and Fox runs through 2031.

UC joins Houston, BYU, UCF, West Virginia, and Utah in declining the funds. Utah's decision comes with a unique twist: the Utes already have their own private equity partner in Otro Capital, a $500 million deal that launched Utah Brands and Entertainment LLC to manage sports-related revenue.

RedBird Capital, meanwhile, has deep sports and entertainment roots. The firm holds a majority stake in AC Milan, invests in Fenway Sports Group (which owns the Boston Red Sox, Liverpool FC, and PGA golf interests), and has stakes in Skydance Media, Artists Equity (co-founded by Ben Affleck and Matt Damon), and LeBron James' SpringHill Company.

As the Big 12 navigates the evolving landscape of college athletics, Cincinnati's decision reflects a cautious approach to financial partnerships—one that prioritizes long-term stability over immediate capital infusion.