PayPal is getting into the college sports business, announcing multiyear partnerships with the Big Ten and Big 12 on Monday that will see PayPal process member institutions’ revenue share payments to athletes.
A source with knowledge of the deal told Sports Business Journal the Big 12 agreement is for five years and worth around $100 million over its life. Terms of the Big Ten deal were not disclosed at press time.
PayPal will also become a preferred payment partner for tuition payments at select schools, which is expected to launch in early 2026.
The need for such a platform comes after Judge Claudia Wilken approved a settlement in the House, Hubbard and Carter antitrust cases earlier this month.
As part of the House settlement, athletes will be able to be paid directly by institutions up to a cap of $20.5M in Year 1. Schools are allowed to begin paying athletes on July 1.
PayPal subsidiary Venmo has also been tabbed the presenting partner of the Big Ten Rivalry Series -- a sponsorship play that will include branding across a slew of Big Ten football and men’s and women’s basketball games.
Venmo, too, will serve as the official partner of the Big 12 -- spanning football, basketball and Olympic sports championships on the men’s and women’s side.
Venmo’s college conference sponsorships are slated to begin during the 2025-26 school year, starting with football and varying on-campus activations.
