Big Ten, Big 12 Athletes Can Receive Revenue-Sharing Payments Through PayPal
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Key Takeaways
- College athletes who compete in the Big Ten and Big 12 Conferences will be able to receive payments from their universities through PayPal, the sides said Thursday.
- The partnership follows a legal settlement that will allow colleges to share revenue with student-athletes.
- PayPal and Venmo will also be able to be used to pay for a wider range of purchases across college campuses in the conferences.
Thousands of student-athletes will be able to receive university revenue-sharing payments through PayPal (PYPL), as the payments platform announced an agreement with two of the major NCAA conferences on Thursday.
Athletes across the Big Ten and Big 12 Conferences will be able to get payments sent to a PayPal account later this summer, the company said.
The move comes weeks after a judge signed off on a multibillion-dollar settlement to a lawsuit that will allow for universities to legally pay athletes directly. College athletes also have been able to receive payments from third parties for their name, image, and likeness (NIL) following a 2021 Supreme Court ruling.
PayPal also said that it “will become a preferred payment partner for tuition payments at select schools” beginning in early 2026. Venmo, which is owned by PayPal, will sponsor “the first-ever Big Ten Rivalry Series, spanning football, men’s and women’s basketball,” and work with the two conferences “to enable acceptance for real-world campus spending, including at bookstores, for ticketing, concessions, and merchandise.”
PayPal shares ticked lower in recent trading and are down about 15% since the start of the year.
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