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Big 12 in advanced talks for deal with RedBird-backed fund

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The Big 12 Conference is in advanced talks with an investment firm backed by RedBird Capital and Weatherford Capital for a $500 million cash injection, according to a person familiar with the matter. 

The deal, via Collegiate Athletic Solutions, known as CAS, follows failed talks earlier in the year for a direct investment into the Big 12, and would mark the first major conference-wide capital deal in major US college sports. 

The partnership would offer the 16 member universities a line of credit of roughly $30 million each and is close to being finalized, the person added, asking not to be named discussing private information.

Many colleges are facing mounting financial pressures from rising athlete pay and escalating coaching salaries, driving the demand for upfront capital. Conferences and schools are increasingly looking for funds to be repaid over several years, often secured against future revenue from media rights. 

The Big 12 confirmed the negotiations in a statement to Yahoo! Sports, which first reported details of the deal. A representative for the Big 12 could not be reached for comment. 

After years of pushing back on institutional investment, deals are now starting to be struck. Big 12 member the University of Utah is in advanced talks for an equity partnership with Otro Capital, which will take an equity stake in Utah Brands & Entertainment, a new for-profit vehicle aiming to boost revenue for the school’s athletics program. 

Earlier this year, the Big 12 came close to striking a deal with CAS, but talks faltered at the last stage. This followed failed negotiations with CVC Capital Partners in 2024 for a potential private equity investment of up to $1 billion in exchange for a 15% to 20% stake in the conference.

The Big Ten has also paused negotiations on a $2.4 billion loan from California pension fund subsidiary UC Investments, following opposition from key members like the University of Southern California and Michigan.

Big 12 Commissioner Brett Yormark stated at SBJ’s Intercollegiate Athletics Forum on Tuesday that the league is not planning to sell a stake in the conference. Instead, the Big 12 would consider a partnership focused on business growth.

The search for new capital is considered crucial for the Big 12 to close the financial gap with rivals such as the SEC and Big Ten, which distribute significantly more cash to member institutions.

Numerous colleges, including Kentucky, Clemson and Michigan State are setting up separate commercial vehicles in order to receive outside investment without giving up ownership of their athletics programs. The model follows similar deals among European football leagues, where private equity firms have invested in a vehicle housing media and commercial rights

The Big 12 has a $2.3 billion media rights deal with ESPN and Fox, running through the 2030-31 season. The six-year contract stabilized the conference post-Texas and Oklahoma’s exit.

Read More: Centerview, RedBird Advise Paramount on $108 Billion Netflix Bid

RedBird, led by Gerry Cardinale, manages $12 billion and counts AC Milan, Boston Red Sox and Liverpool FC owner Fenway Sports Group, LeBron James’ SpringHill Co. and regional broadcaster Yes Network among its investments, according to its website. Weatherford Capital is co-founded by Drew Weatherford, a former college football player for Florida State University.



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Maine is getting Loony again as population of beloved bird doubles since 1983

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Loons are on the mend in Maine, filling more of the state’s lakes and ponds with their haunting calls, although conservationists say the birds aren’t out of the woods yet.

Maine is home to a few thousand of the distinctive black-and-white waterbirds — the East Coast’s largest loon population — and conservationists said efforts to protect them from threats helped grow the population. An annual count of common loons found more adults and chicks this year than last, Maine Audubon said this week.

The group said it estimated a population for the southern half of Maine of 3,174 adult loons and 568 chicks. Audubon bases its count on the southern portion of Maine because there are enough bird counters to get a reliable number. The count is more than twice the number when they started counting in 1983, and the count of adults has increased 13% from 10 years ago.

“We’re cautiously optimistic after seeing two years of growing chick numbers,” said Maine Audubon wildlife ecologist Tracy Hart. “But it will take several more years before we know if that is a real upward trend, or just two really good years.”

Maine lawmakers have attempted to grow the population of the loons with bans on lead fishing tackle that the birds sometimes accidentally swallow. Laws that limit boat speeds have also helped because they prevent boat wakes from washing out nests, conservation groups say.

It’s still too early to know if Maine’s loons are on a sustainable path to recovery, and the success of the state’s breeding loons is critical to the population at large, Hart said. Maine has thousands more loons than the other New England states, with the other five states combining for about 1,000 adults. The state is home to one of the largest populations of loons in the U.S., which has about 27,000 breeding adults in total.

Minnesota has the most loons in the lower 48 states, with a fairly stable population of about 12,000 adults, but they are in decline in some parts of their range.

While loons are not listed under the U.S. Endangered Species Act, they are considered threatened by some states, including New Hampshire and Michigan. The U.S. Forest Service also considers the common loon a sensitive species.

The birds migrate to the ocean in late fall and need a long runway to take off, meaning winter can be a treacherous time for the birds because they get trapped by ice in the lakes and ponds where they breed, said Barb Haney, executive director of Avian Haven, a wildlife rehabilitation center in Freedom, Maine.

“We’re getting a lot of calls about loons that are iced in,” Haney said, adding that the center was tending to one such patient this week.



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Trump says Thailand, Cambodia ‘agreed to CEASE all shooting,’ but the sound of gunfire disagrees

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President Donald Trump said Friday that Thai and Cambodian leaders had agreed to renew a truce after days of deadly clashes, even as Thai and Cambodian officials suggested there is still work to do to get the ceasefire that the U.S. administration had helped broker earlier this year back on track.

Trump announced the agreement to restart the ceasefire in a social media posting following calls with Thai Prime Minister Anutin Charnvirakul and Cambodian Prime Minister Hun Manet.

“They have agreed to CEASE all shooting effective this evening, and go back to the original Peace Accord made with me, and them, with the help of the Great Prime Minister of Malaysia, Anwar Ibrahim,” Trump said in his Truth Social post.

The Thai Ministry of Foreign Affairs on Saturday disputed Trump’s assertion that a ceasefire was agreed to without providing any details, and Thai defense ministry spokesperson Surasant Kongsiri said clashes were still ongoing. Cambodia’s defense ministry reported that Thailand continued to carry out strikes early Saturday. Those strikes could not be independently verified.

Thai prime minister differs with Trump

After speaking with Trump on Friday but before the U.S. president’s social media posting, Anutin said he reiterated to Trump that Thailand’s position was to keep fighting until Cambodia no longer posed a threat to its sovereignty.

“I told him that he had better talk to our friend. Don’t just say that we have to stop fighting,” Anutin said. “You should announce to the world that Cambodia will stop firing, will withdraw their forces, will clear all land mines. Please show us the actions.”

Trump wrote in his Friday social media post, “The roadside bomb that originally killed and wounded numerous Thai Soldiers was an accident, but Thailand nevertheless retaliated very strongly.”

The comment was an apparent reference to recent land mine explosions along the border that triggered tensions between the two countries.

The Thai army reported multiple injuries from the explosions but no deaths and Anutin on Saturday refuted Trump’s characterization.

“It’s definitely not a roadside accident,” Anutin said Saturday morning on his Facebook account. “Thailand will continue to perform military actions until we feel no more harm and threats to our land and people. I want to make it clear. Our actions this morning already spoke.”

Trump, a Republican, said Malaysia’s prime minister had played an important role in helping him push Thailand and Cambodia to once again agree to “resolving what could have evolved into a major War between two otherwise wonderful and prosperous Countries!”

The original ceasefire in July was brokered by Malaysia and pushed through by pressure from Trump, who threatened to withhold trade privileges unless Thailand and Cambodia agreed. It was formalized in more detail in October at a regional meeting in Malaysia that Trump attended.

Despite the deal, the two countries carried on a bitter propaganda war and minor cross-border violence continued.

Conflict has a long history

The roots of the Thai-Cambodian border conflict lie in a history of enmity over competing territorial claims. These claims largely stem from a 1907 map created while Cambodia was under French colonial rule, which Thailand maintains is inaccurate. Tensions were exacerbated by a 1962 International Court of Justice ruling that awarded sovereignty to Cambodia, which still riles many Thais.

Thailand has deployed jet fighters to carry out airstrikes on what it says are military targets. Cambodia has deployed BM-21 rocket launchers with a range of 30-40 kilometers (19-25 miles).

According to data collected by public broadcaster ThaiPBS, at least six of the Thai soldiers who were killed were hit by rocket shrapnel.

The Thai army’s northeastern regional command said Thursday that some residential areas and homes near the border were damaged by BM-21 rocket launchers from Cambodian forces.

The Thai army also said it destroyed a tall crane atop a hill held by Cambodia where the centuries-old Preah Vihear temple is located, because it allegedly held electronic and optical devices used for military command and control purposes.

Trump has repeatedly made the exaggerated claim that he has helped solve eight conflicts, including the one between Thailand and Cambodia, since returning to office in January, as evidence of his negotiating prowess. And he’s not been shy about his desire to be recognized with a Nobel Peace Prize.

In an exchange with reporters later Friday, Trump credited his administration with doing a “a very good job” with its push to stem the renewed fighting.

“And we got it, I think, straightened out today,” Trump said at an unrelated event in the Oval Office. “So Thailand and Cambodia is in good shape.”

African and Middle East agreements also under strain

Another ceasefire that Trump takes credit for working out, between the Democratic Republic of Congo and Rwanda, is also under strain, just after the leaders of the African nations traveled to Washington to sign a peace deal.

A joint statement released by the International Contact Group for the Great Lakes expressed “profound concern” over the situation in Congo’s South Kivu region, where new deadly violence blamed on the Rwandan-backed M23 militia group has exploded in recent days.

The Great Lakes contact group — which includes Belgium, Britain, Denmark, France, Germany, the Netherlands, Sweden, Switzerland, the United States and the European Union — has urged all sides “to uphold their commitments” under the deal signed last week and “immediately de-escalate the situation.”

And Trump’s internationally endorsed plan to end the Israel-Hamas war in Gaza is still not finalized and in limbo, with sporadic fighting continuing while a critical second phase remains a work in progress.

___

AP writer Jintamas Saksornchai reported from Surin, Thailand. Grant Peck in Bangkok and Matthew Lee contributed reporting.



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‘People are struggling’: Running on affordability, Democrat Doug Jones declares race for Alabama governor

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Former U.S. Sen. Doug Jones, the last Democrat to hold statewide office in Alabama, kicked off his campaign for governor Friday, saying voters deserve a choice and a leader who will put aside divisions to address the state’s pressing needs.

“With your help we can finish what we began. We can build the Alabama we’ve always deserved,” Jones told a packed crowd at a Birmingham campaign rally featuring musician Jason Isbell.

He said the state has urgent economic, health care and educational issues that are not being addressed by those in public office.

The campaign kickoff came on the eighth anniversary of Jones’ stunning 2017 win over Republican Roy Moore, and Jones said Alabama proved back then that it can defy “simplified labels of red and blue.”

“You stood up and you said something simple but powerful. We can do better,” Jones said. “You said with your votes that our values, Alabama values, are more important than any political party, any personality, any prepackaged ideology.”

His entry into the race sets up a possible rematch with Republican Sen. Tommy Tuberville, who defeated Jones by 20 points in 2020 and is also now running for governor. Both will have party primaries in May before the November election.

Before running for office, Jones, a lawyer and former U.S. attorney, was best known for prosecuting two Ku Klux Klansmen responsible for Birmingham’s infamous 1963 church bombing.

In an interview with The Associated Press, Jones said families are having a hard time with things like health care, energy bills and simply making ends meet.

“People are struggling,” he said. “They are hurting.”

Jones used part of his speech to describe his agenda if elected governor. He said it is time for Alabama to join most states in establishing a state lottery and expanding Medicaid. Expanding Medicaid, he said, will protect rural hospitals from closure and provide health care coverage to working families and others who need it.

He criticized Tuberville’s opposition to extending Affordable Care Act subsidies. Jones said many Alabama families depend on those subsides to buy health insurance “to keep their families healthy.”

Alabama has not elected a Democratic governor since Don Siegelman in 1998. In 2020, Tuberville held Jones to about 40% of the vote, which has been the ceiling for Alabama Democrats in recent statewide races.

Retired political science professor Jess Brown said Jones lost in 2020 despite being a well-funded incumbent, and that’s a sign that he faces an uphill battle in 2026.

“Based on what I know today, at this juncture of the campaign, I would say that Doug Jones, who’s a very talented and bright man, is politically the walking dead,” Brown said.

Jones acknowledged being the underdog and said his decision to run stemmed in part from a desire for Tuberville not to coast into office unchallenged.

Jones pointed to recent Democratic victories in Georgia, Mississippi and other locations as cause for optimism.

Tuberville, who previously headed up the football program at Auburn University, had “no record except as a football coach” when he first ran, Jones said. And “now there are five years of being a United States senator. There are five years of embarrassing the state.”

Jones continued to question Tuberville’s residency, saying he “doesn’t even live in Alabama, and if he does, then prove me wrong.” Tuberville has a beach house in Walton County, Florida, but has repeatedly said Auburn is his home.

Tuberville’s campaign did not immediately respond to a request for comment but has previously noted that he defeated Jones handily in 2020. Tuberville spent part of Friday with Defense Secretary Pete Hegseth in Huntsville to mark the official relocation of U.S. Space Command from Colorado to Alabama.

Jones’ 2017 victory renewed the hopes, at least temporarily, of Democratic voters in the Deep South state. Those gathered to hear him Friday cheered his return to the political stage.

“I’m just glad that there’s somebody sensible getting in the race,” Angela Hornbuckle said. “He proved that he could do it as a senator.”



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