Oklahoma State AD Chad Weiberg said that the school does “not currently plan to take advantage of the line of credit” offered by the Big 12’s recent private capital agreement. Weiberg has “generally worked to avoid taking on significant debt in any fashion when possible,” so his comments Friday “align with how he has operated in his role.” Weiberg said, “I give commissioner (Brett) Yormark a lot of credit for providing opportunities.” Weiberg: “There’s a little bit of a misconception on this. This isn’t a private equity deal. There’s no ownership stake or control in the conference they’re taking. It’s more of a private investment opportunity. RedBird is a huge global entity. They’ve got a lot of partnerships. The conference office will get out of it some money to be able to invest in some other business entities, take an investment in those to try to grow revenues from a different revenue stream.” He added, “As of right now, that is something that Oklahoma State will not do at this point” (OKLAHOMAN, 5/8).
Oklahoma State joins Big 12 schools in declining credit option
