US EditionUniversity of Utah Nears Deal with Private Equity Firm to Help Fund Athletics
The University of Utah plans a private equity partnership to stabilize athletics revenue with a majority nonprofit ownership and $500 million potential income, officials said.
- On Tuesday, University of Utah trustees unanimously approved a first-of-its-kind private equity partnership to create Utah Brands & Entertainment LLC, with completion expected early next year.
- After the House v. NCAA settlement, colleges face increased pressure, with Ohio State reporting a $37.7 million deficit and Colorado projecting $27 million, prompting Utah to seek private equity deals.
- Under the proposal, Otro Capital would operate ticketing, media, stadium events, concessions and licensing while the athletics department retains control over athletes, scholarships, coaches and NCAA compliance.
- The partnership could deliver more than $500 million to the athletic department, donors may purchase stakes in Utah Brands & Entertainment, and the agreement includes a five- to seven-year exit strategy with buyback rights for the University of Utah.
- Utah becomes the first school to embrace private equity, with the University of Utah leading as conferences and leagues explored deals like the Big Ten's $2.4 billion talks and Big 12's $800 million to $1 billion option.
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Associated Press News
University of Utah aims to boost athletic revenue through private-equity partnership
The University of Utah has announced a plan to help the athletic department generate new revenue streams, in part through a first-of-its-kind partnership with a private equity firm.
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Utah Utes football helmet With the introduction of NIL and a congress settlement that sees schools set to pay out former athletes nearly $3 billion in total, schools across the country are rapidly looking for new revenue streams. One of the ways that they’re doing so involves private equity deals, the most notable of which involves the Big Ten (although both Michigan and USC have strongly opposed the idea). Now, it appears that the Utah Utes are…
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