WVU AD Wren Baker Confirms West Virginia’s Answer to Big 12

MORGANTOWN, W.Va. – As has been reported by multiple outlets, including West Virginia Sports Now, WVU director of athletics Wren Baker confirmed his answer to the Big 12 about their private capital offer.

No, or more accurately, not at this time, responded Baker when asked directly during his annual spring media briefing on Tuesday, May 19. Baker said he appreciates that the conference is thinking outside of the box and willing to provide lifelines to schools if necessary.

However, he also called the offer a “payday loan” and feels accepting money with a 10% interest rate would be an unnecessary risk for the athletic department based on the progress they have made financially and what’s to come with the West Tower project etc.

More About the Big 12’s offer from a WVSN column:

While the recent news of the Big 12’s private capital deal may seem like a lifeline for programs in need of fast cash, accepting the offer is far from an easy decision for athletic directors.

Courtesy of RedBird Capital, the Big 12 is offering its schools $30 million…but there’s a catch, it’s not free money. Even assuming the intentions of this are in good faith, this opportunity can be best explained as a loan or credit line. The label of “capital infusion” is simply a fancy promotional slogan.

And when it comes to taking out a loan or opening up a line of credit, it’s usually not wise unless absolutely necessary. It’s often viewed as an unnecessary risk, and would be in this case for the Mountaineers.

As commissioner Brett Yormark tries to make sure the Big 12 maintains its place next to the ACC in the second tier among the Power Four conferences, putting together the first private capital deal from a major conference may seem like a progressive and forward thinking move. And it might be that in general, but it’s still a risky proposition that WVU is justified to stay away from.

Note: Big 12 schools have one year to decide if to accept the conference’s one-time offer of a capital infusion.