According to a longtime college sports radio host Greg SwaimThe Big 12 is the only conference willing to use private equity – and that’s only because the ACC doesn’t have “a private company big enough to make a difference.”

Swaim puts it this way: The SEC and the Big Ten don’t even think about it because they don’t need to use it to attract new schools.

“Two words… private equity,” Swaim said up front before saying, “The SEC and B1G will not use the nuclear option because they don’t have to. The ACC will not use it because they don’t have a private entity large enough to make a difference. The Big 12 will because Brett Yormark has already talked to several, both domestic and foreign. It will indeed make a big financial difference in what they can offer schools to join.”

The Big 12 is apparently planning to enlist the help of private equity firms to raid the ACC. Originally, FSU and Clemson were thought to be the Big 12’s main targets, but Swaim has heard that Yormark and co. the Noles and Tigers use as leverage to join Louisville, VA Tech, NC State and Miami. Pitt and GA Tech have also had talks about the Big 12. UVA and UNC have interest in the B12, but will likely receive an invitation from the Big Ten or SEC before the Big 12 could even be a factor.

This means that the Big 12 is basically interested in everyone from the ACC except the three new schools (SMU, Cal, Stanford), the NY/New England schools (BC, Syracuse), and Wake Forest. As Swaim points out, schools that don’t hear from the Big 12 could end up in a non-power conference.

“…if your ACC school is not already in third-party discussions with the B12, prepare to attend a non-Power-related conference.” Swaim wrote.

Too bad for SMU if that’s the case. Of all the ACC schools, it would make the most sense for them to be in the Big 12. And as for the others? Rebuilding the ACC with schools from the AAC and maybe Oregon State and Wazzu isn’t the worst idea.