This news has sort of gotten buried under the semi-finals avalanche, but it’s definitely something to marvel over:
Want to own a piece of a major college football conference?
There may be one for sale shortly.
Pac-12 Conference leadership pitched university presidents and chancellors a strategic plan aimed at bailing out the struggling conference and helping it keep pace with its Power Five Conference peers.
The “Pac-12 NewCo” plan was introduced to the conference presidents and chancellors at their mid-November meeting and was subsequently discussed in a conference call in December, per sources. Private investors would own 10 percent equity in the newly formed entity in exchange for a $500 million investment.
A six-page document obtained by The Oregonian/OregonLive outlines the plan presented by conference commissioner Larry Scott to his bosses during the November meeting of the “Pac-12 CEO Group.”
The document outlines the conference’s current lagging media rights projections and introduces an ambitious plan that involves taking on a strategic private investor.
Sure, this is schools weighing a proposal to sell a piece of a collegiate athletic conference to an outside investor, but it hardly poses an existential threat to the nature of college sports the way a kid sitting out a bowl game to prep for the NFL draft does, amirite?
Larry Scott, genius.
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