College Football Now a Multi-billion Dollar Business with Equity Stakes
Alumni Group Sounds the Alarm on College Athletics Deal
“A group representing alumni and school trustees is urging the governing boards at Big Ten universities to halt a proposed $2.4 billion private equity deal between the conference and UC Investments, the investment branch of the University of California system. Daniel Greer has the details https://texasscorecard.com/federal/alumni-group-sounds-the-alarm-on-college-athletics-deal/ .
The American Council of Trustees and Alumni is raising concerns about transparency and oversight, calling for university regents and trustees to block any final vote on the transaction until their boards are fully informed and authorize participation. The widely reported transaction, proposed earlier this month, would see UC Investments acquire a 10 percent equity stake in a newly created business entity, Big Ten Enterprises.
“The arrangement is designed to extend the conference’s “grant of rights,” effectively binding universities into the conference through 2046.
“ACTA argues that the institutions’ governing boards, not athletic directors, presidents, or chancellors, should hold final authority over any future transactions involving the monetization of university assets—including sports deals.”
https://blast.texasscorecard.com/t/d-e-gjhjdyd-dryudktlut-tt/