#10: Penn State has released two draft renderings of the planned $700M renovation to Beaver Stadium following approval of the project from the PSU Board of Trustees. Nittany Lions AD Pat Kraft: "I believe that Beaver Stadium is one of the most iconic buildings in all of sports, so [the renovation] keeps Beaver Stadium around for generations to come. It will provide an increased revenue stream for us. I think we will continue to have the best gameday experience in the country. And I think it's a building now that we can use, much like we did with the Luke Combs concert [in April], for far more than just seven or eight days in the fall." As part of the project, Beaver Stadium will undergo significant infrastructure repairs to address aging steel supports, concrete issues, and a "deteriorating press box with minimal investment since 1960." Fan Nation’s Mark Wogenrich also notes stadium circulation will be improved with widened concourses and the addition of 24 elevators and 12 escalators. Restroom capacity will increase by 15%, and concession locations will increase by 70%. As far as capacity, Kraft says: “We will be over 100,000 for sure. … We want everyone to be able to have an opportunity to come to the games, and over 100,000 fans is really important. It’s part of our DNA. So we will continue to try to have it as big as we possibly can." (link, link)
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#9: The Ivy League Baseball Tournament has moved to Montclair State (DIII) for player safety reasons after Columbia’s Robertson Field at Satow Stadium was deemed unplayable due to a field maintenance issue following game three of the tournament. (link)
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#8: George Washington AD Tanya Vogel plans to depart the university after almost six years leading the Revolutionaries. President Ellen Granberg: "Tanya has an incredible ability to create a culture of excellence, commitment, and respect among student-athletes, coaches, and staff. In every role she has had at GW, she has led with distinction, supporting our student-athletes with warmth, care, and tireless devotion. I am grateful for her work in advancing our Athletics Department, and I wish her all the best in the next chapter of her career." Parker Executive Search will lead the hunt for a successor, and Vogel will remain at GW through the transition before joining the Pictor Group as a consultant. (link)
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#7: Fox has revealed its full slate of Friday primetime football games featuring matchups in the Big Ten, Big 12 and Mountain West. (link)
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#6: Former Toledo Football AC Craig Kuligowski has filed a $10M lawsuit against the school alleging he was “because he was the wrong age and the wrong race.” The suit notes that Rockets AD Bryan Blair stated in an athletics department-wide meeting that Blair wanted Toledo to hire “more coaches who were representative of current student-athletes” and argues that “it was clear that by ‘representative,’ Blair, as an agent of the University, meant younger and black or African American.” Kuligowski contends that as a former Toledo student-athlete he was particularly representative of the Toledo student body. More from the suit. (link)
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#5: Yahoo’s Ross Dellenger reports that “after a lengthy and robust discussion Monday over several proposals,” the DI Board of Directors is “recommending to the Board the original proposal – not the ‘alternate plan’ – to finance the $2.77B settlement damages. The DI Board of Directors will meet this week to potentially approve the NCAA’s framework on payment of the $2.77B in back damages: 60% from school reduction; 40% from NCAA office. Under the plan, P5 reduction will pay 40% & 27 other leagues will pay 60% of $1.65B over 10 yrs. The DI Board of Directors’ approval of the financial framework would be the second of a three-step process in the NCAA’s authorization of settlement terms. The NCAA Board of Governors, which manages litigation matters & is set to meet this week, represents the final step. A reminder: The power conferences, each listed as a defendant in the suit, each must gain approval this week in votes from their presidential boards – an expectation, barring something unforeseen.” (link)
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#4: Santa Clara AD Renee Baumgartner announces that she will step down on June 30 after nine years at the helm in order to return home and attend to family health matters. Baumgartner: "My time here at Santa Clara University represents the pinnacle of my career. The progress we have made in building one of the finest Division I athletic programs in the country has been a testament to the caring and support of the entire Bronco family. I am so grateful for the support I have received from President [Julie] Sullivan, each and every one of the student athletes who have passed through our doors, and the committed staff, coaches and administrators, alumni and donors who make this an amazing place. It is time now, to tend to the needs of my family, after 40 years away from home, but I do so secure in the knowledge that Santa Clara Athletics will continue its climb." (link)
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#3: The NCAA Board of Directors has approved the recommended funding plan to finance $2.8B in settlement damages, according to Yahoo’s Ross Dellenger, who notes the Board of Governors will meet this week to consider final authorization. Dellenger also outlines the expected initial 10-year funding plan for $2.8B (figures could shift slightly): NCAA national office pays 41% ($1.1B). Schools pay 59% in distribution reduction ($1.65M). Of the school distribution, P5 is responsible for 40% ($664M) & 27 other leagues will pay 60% ($990M). Overall, the Big Ten is set to incur ~$165M in reductions, followed by ACC ($155M) and SEC ($122M). Dellenger: “Why is the ACC paying more than the SEC? The NCAA formula to determine a league's reduction is based on distribution that league earned. Most NCAA distribution is related to participation in the bball tourney. The ACC earned more distribution so it will endure more reduction.” Full range of expected reductions for each conference. (link); Sports Illustrated’s Pat Forde adds that the vote count was 16-3-2. (link); Dellenger also points out that schools changing conferences this summer will not have their shares reduced twice. Their reductions will “follow them to their new conference.” (link)
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#2: ESPN’s Pete Thamel and Yahoo’s Ross Dellenger, have more details on how a potential House settlement would be paid for as a memo from the NCAA circulated late last week & indicated “an expected $1.6 billion that would come from reductions in NCAA distribution, sources told ESPN. The remaining $1.1 billion is expected to come from NCAA reserves, catastrophic insurance, new revenue and budget cuts, sources said. Of that $1.6 billion, nearly 60 percent is expected to come from leagues outside the Power 5 leagues that are named in the House lawsuit, according to sources. (The NCAA is named, and all of the schools are members.) The other 40 percent will come from the power conferences.” Not surprisingly, some non-P5 leagues are less than enthused with the breakdown with an unnamed leader from a smaller league telling ESPN: “We're not named in the lawsuit. We don't have a voice in any of this. We're just being told what our taxation is.” Another: “This is incredibly unfair and has a dramatic impact. I'm losing about 10 percent of my operating budget. Do I cut two staff members in order for money to go to Zion Williamson? Ninety percent of the money in the suit projects to go to power five football and men's basketball players. The 40-percent payment for the power conference isn't proportionate.” More, including a “Litigation Expense” breakdown chart from Dellenger with lots of financial data and context. (link, link)
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#1: Sportico reports RedBird Capital & Weatherford Capital are launching Collegiate Athletic Solutions (CAS), which is described as "a college sports-specific investment fund, one that could lend as much as $2 billion to athletic departments across the country." More key details: "The structure of CAS, according to multiple people familiar with its plan, is to lend upfront money and operational expertise to athletic departments in exchange for a share of additional revenue generated under their partnership. [...] CAS, meanwhile, is raising money and is already in talks with a number of other universities, said the people, who were granted anonymity because the details are private. The new venture plans to initially partner with five to 10 athletic departments, offering $50 million to $200 million to each." You should be plenty familiar with RedBird Captial, which is led by Gerry Cardinale. Weatherford Capital is led by a trio of Weatherford brothers, one of whom, Drew, played football at Florida State & sits on the university's board. Lots more. (link)
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