B1G reportedly 'courting' potential private equity investment
The Big Ten is exploring taking on investments from private equity firms, according to a report.
That’s per Sportico’s Daniel Libit and Scott Soshnick. The report says the Big Ten has retained the investment banking firm Evercore to solicit a “first round of offers” from private equity firms.
A Big Ten spokesperson confirmed the inquiries into private equity funding in a statement to Sportico, but declined to reveal any other details:
“To better support its 18 member institutions, the conference is evaluating potential strategic partnerships in order to enhance the conference’s event, sponsorship and other ancillary business endeavors.”
Other conferences and programs have reportedly explored a cash infusion via a private equity firm in recent years. However, it’s believed no such deal has been executed at this point in time.
The college football financial landscape is set to change significantly in the coming months if the House settlement is approved later this spring. It’s unclear what changes could be coming as part of that settlement, but it appears that private equity investment in college football is certainly possible in the future.
Big Ten commissioner Tony Petitti and SEC commissioner Greg Sankey previously dismissed the idea of taking on private equity investment as part of a “super league” proposal.