Call it the law of unintended consequences, but with tax deductions for contributions to college athletics off the table now, is this the future for athletic departments (at least the ones with serious cash on the books)?
Think of SunTrust Parks/Batteries blooming across America’s campuses. Then think of your typical college athletic director managing that. Should be glorious.
Get The Picture 
They can’t even manage a local derby between two amateur teams.
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Iowa… If you build it, he will come?
I thought that only worked with corn fields…
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Both the IRS and state law limit the outside revenue-generating businesses non-profits can get into. A university (or university athletic association) that tried to open a Battery-style outdoor mall and entertainment area open to the public, with apartments available to the general public, etc. would clearly run afoul of these rules… Not to mention, of course, the public backlash from the existing entrenched interests (i.e., other area merchants, restaurants, landlords, etc.).
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UBIT?
My foggy memory recalls some case law in tax where a church would lease space to a sandwich shop or what not and think that this activity was not taxable. They lost as I recall.
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Wouldn’t this need a lot of private investment as well? Few developers would let eggheads manage such an endeavor.
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