2 Big-Name Schools Are Reportedly Prepared To Leave The Big Ten

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Two major schools are reportedly considering leaving the Big Ten amid talks of potential investment.

The conference has undergone multiple notable changes over the years, adding several prominent schools since 2011, including Nebraska, Maryland, and Rutgers.

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An expansion a few years ago saw it welcome Pac-12 institutions Oregon, Washington, USC, and UCLA. However, there’s now talk of a possible exit following news of plans to bring in investors.

It has been reported that the Big Ten is considering an investment from private equity, with a 20-year deal in the works.

The move would involve selling a stake in the new corporate entity to an outside investor, specifically the California Public Employees’ Retirement System (CalPERS), which would invest $2.4 billion.

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Aug 30, 2025; Los Angeles, California, USA; The Big Ten Conference logo at United Airlines Field at Los Angeles Memorial Coliseum (Photo via Kirby Lee-Imagn Images)
Despite the large sum involved, two schools are not on board, per reports.

The University of Michigan and the University of Southern California are understood to be unwilling to buy in.

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According to Yahoo Sports, both schools have been sent ultimatums from the Big Ten, informing them that the conference is moving forward with the deal and has given each school a deadline (November 21) to agree.

Any school not in agreement risks losing additional funding, as well as its future with the conference after the grant-of-rights agreement expires in 2036.

Reports note that the schools in question are of the view that the deal is a “payday loan” they don’t need and would bail out schools known for poor financial management.

USC, in particular, would receive less money upfront than other schools, such as Ohio State and Penn State, which recently fired their head coach, given that they are relatively new to the conference.

The reported disenchantment is certainly intriguing, given that the programs could either join other conferences in what would be seismic shifts or follow Notre Dame’s independent model.

Of course, neither is expected to happen, but you never know when it comes to college athletics, and sports, for that matter.