First-year Oklahoma State head football coach Eric Morris admits that his program is playing catch-up with a lot of teams when it comes to player compensation. The Big 12 Conference may be riding to the rescue. On Wednesday, Yahoo Sports’ Ross Dellenger reported that the Big 12’s league’s presidents and chancellors approved a five-year agreement with RedBird Capital and Weatherford on a private equity deal that amounts to access to $500 million in money for the Big 12 and its member schools to use. It’s the first private equity deal for a major college conference. There are several facets to the deal. But for schools like Oklahoma State, it can access $30 million in money to use as it needs. The question is whether the Cowboys should? The Private Equity Question Oklahoma State University football coach Eric Morris.…