The Big 12 is already going through several changes this year with the departure of Texas and Oklahoma and the additions of Arizona, Arizona State, Colorado and Utah, and it is reportedly considering "a first-of-its-kind private equity investment to ensure the league's long-term financial and competitive security."

Dennis Dodd of CBS Sports reported Thursday that the league is in talks with Luxembourg-based CVC Capital Partners regarding a potential deal that would provide $800 million to $1 billion for the Big 12 with some of the money going to the 16 conference members.

In exchange, CVC Capital Partners would receive a 15 to 20 percent stake in the conference.

Dodd pointed out that any deal would likely require the Big 12 to stay together, perhaps through a new grant of rights in 2031. Understandably, CVC wouldn't want to enter into a partnership with the league just to see some of its teams depart for the Big Ten, SEC or another conference for the opportunity to make more money.

With that as the backdrop, the report indicated "many league presidents need further convincing" despite talks reaching a "pretty serious" stage.

The Big 12 sits behind the Big Ten, SEC and ACC when it comes to average annual value, and it would still be behind the Big Ten's industry-leading media rights deal with Fox, CBS and NBC that pays members approximately $75 million per year even if there was a partnership with CVC.

Big 12 teams make $31.7 million per year with its Fox and ESPN media rights deal, so it would at least close the gap to the Big Ten with a private equity partnership.

League commissioner Brett Yormark also reportedly proposed another plan to close that gap:

According to ESPN's Pete Thamel, a decision on naming rights "is expected in the coming months." Should the Big 12 agree to sell the naming rights, the sponsor "would potentially take the name Big out of Big 12 and replace it with the sponsor's name," Thamel added.

The Action Network's Brett McMurphy provided more information on the ongoing talks:

Dodd pointed out that every school is looking for additional revenue streams like that now that revenue sharing with players will be on the table following last month's House v. NCAA settlement.

As a result, there seems to be something of a feeling of inevitably when it comes to college sports and private equity infusing cash into conferences and even individual schools.

Dodd wrote "it's no secret Florida State has partnered with private equity firm Sixth Street, another leading global equity firm, to maximize its value as it continues an attempt to exit the ACC," highlighting how individual schools can also get involved.

The Big 12 is navigating many of the new challenges in college sports more than most thanks to so much movement as part of conference realignment.

It lost its two powerhouse football programs in Texas and Oklahoma but still has a number of impressive basketball schools in Kansas, Baylor, Houston and Iowa State, among others, as well as plenty of football storylines with Deion Sanders leading Colorado and relatively new programs such as Utah and BYU attempting to establish a history of success.

That could attract a private equity cash infusion, which, in theory, could lead to further sustained success and some stability after a tumultuous stretch for the league.