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ESPN’s Pete Thamel & Dan Wetzel add context to the massive news of the Big Ten potentially taking a $2B+ investment from UC Investments to create a new Big Ten Enterprises unit to further monetize the conference’s assets. Of particular note: “The pension fund is not a private equity firm, and the UC fund valuation proved to be higher than other competing bids. [...] The exact equity amounts per school in Big Ten Enterprises is still being negotiated. There is expected to be a small gap in equity percentage between the biggest brands and others, however it is likely to be less than a percentage point. [...] The UC pension fund would receive a 10% stake in Big Ten Enterprises and hold typical minority investor rights but no direct control. [...] The deal has not been without detractors, with both Michigan and Ohio State -- the league's two wealthiest athletic programs -- expressing skepticism initially, per sources. Each school has been hit with significant lobbying not just from the league office but also other conference members to come to an agreement.” (link); Front Office Sports’ Amanda Christovich indicates a vote on the matter is expected next week. (link); Former Fox Sports President Bob Thompson adds: “Now comes the fun part. Divvying up the assets between what can be monetized/controlled at the school level and what can be monetized/controlled at the conference level. Always the difficult part in these type of deals.” (link)

In reacting to news that UC Investments was negotiating to secure a stake in the Big Ten’s new business subsidiary, Texas Tech Board of Regents Chair Cody Campbell pulled no punches, remarking: “It would be very interesting to know (and somebody should directly ask) how much money Tony Petitti will personally make from this Big Ten Private Equity deal - both in the immediate term and over the course of the extended grant of rights. Big Ten members (and all of college football) should know the exact amount. The answer should be ‘Zero Dollars’, and maybe it is? But this deal he’s pushing so hard doesn’t seem to make much business sense on the surface, and it will have a major and damaging impact on the entire college sports ecosystem.” (link)

Sportico’s Daniel Libit provides an update after Sen. Maria Cantwell’s (D-WA) letter to Big Ten school presidents addressing private equity in college sports, noting: “A Democratic Commerce Committee staffer tells Sportico that Sen. Cantwell does not have any imminent plans to propose/join legislation addressing private equity in college sports, despite her letter today warning Big Ten school presidents about the perils of PE.” (link) 

As Oklahoma AD Joe Castiglione heads into his final Red River Rivalry today, the Dallas Morning News’ Brad Townsend reflects on Castiglione’s experience with the game. For his part, Castiglione says: “I haven’t stopped to think of that too much, maybe because that’s too far into the bitter part of the bittersweet. I’m certainly honored and blessed to have had this opportunity, and I can recall every single one of the Red River games I’ve attended.” Castiglione also notes the importance of support & alignment that started with former OU President David Boren: “It’s vital that people, coaches and in particular the athletes, are supported with everything they need to be successful. Where the sun rises and sets for me is how to create a world class experience for student athletes. It truly is my purpose, my extension of ‘Why.’” Texas AD Chris Del Conte on Castiglione: “He’s a titan in our industry, so revered, so respected. Joe leads by humility. He cares about everything around him. Cares about the student athlete. Cares about the enterprise. You can learn a lot from Joe by just listening.” (link)

The Oklahoman’s Colton Sulley pens a similar article in which Castiglione says of the rivalry: “Both universities have a great foundation upon which they have built their own success, and we're two iconic brands. If people can't compartmentalize that and in other ways, look toward the fact that these two universities bring out the best in each other, then there’s nothing we can do to change their minds.” Sulley also notes that “Castiglione wants to get some things off his chest. … Over the years, these doubts have led many to suggest that Oklahoma simply follows Texas’ lead.” Castiglione: “Let's just debunk all that right now, it's never been the case. May disappoint the people that keep wanting to believe that, but it's never been the case. Believe me, they watch a lot of things that we create here at Oklahoma.” (link)

It’s good for college football that the top of the Group of 5 has a path into the College Football Playoff, observes The Athletic’s Chris Vannini, who notes, after taking in last night’s scene in Denton where the largest crowd in UNT history (31,386) watched the Mean Green battle USF, that CFP expansion to 12 teams has been an “absolute success.” Vannini continues: “One of the smartest things the subgroup of three commissioners and Notre Dame athletic director Jack Swarbrick did in concocting a 12-team CFP format was to grant automatic playoff berths to the top six conference champions (later five after the Pac-12’s collapse). It guaranteed that at least one Group of 5 school would make the field.” American Commissioner Tim Pernetti: “It’s critical (that) the playoff is an inclusive opportunity. Our coaches are recruiting kids, telling them we have an opportunity to play for the national championship with access to the Playoff. A lot of the programs in this conference are rising, and the support is rising with it.” More. (link, link)

More from Oregon AD Rob Mullens’ chat with JohnCanzano.com’s namesake. On the potential for expanding Autzen Stadium or doing more upgrades: “We love Autzen Stadium. It is a tremendous home-field advantage and tremendous experience. … That’s something we are always studying. We’re in the middle of a significant facility project right now. I can see out my window in our new indoor football practice facility. And then once we get through that, obviously, we’ll start (looking at it). We’re always thinking about Autzen, and now we have this new $20.5M line item and the financial pressures of ‘What can we do?’ to increase our base and fund third-party NIL to our student athletes. The formula has changed a little bit. Football generates 80 percent of the revenue here. Autzen is our economic engine. And obviously, we want to make sure that we’re staying at the forefront with our fan experience in Autzen, particularly as we’re having success. It would always be, what can you do to Autzen? It’s a special place, and we want to make sure that we continue to have that huge home-field advantage that it presents to itself.”  (link)

Following Indiana’s College Football Playoff loss to Notre Dame last season, 1981 Hoosier grad and billionaire Mark Cuban made the decision to donate directly to IU Athletics. Cuban: “I gave some to sports this year for the first time ever. Typically, I was the exact opposite. I'm not a fan of anything that I believe raises tuition in the least bit. But after getting to talk to [Football HC Curt Cignetti] and seeing what was going on, they kinda talked me into it.” Per CBS Sports’ Richard Johnson, Cuban declined to disclose the amount, but did say it was a “big number,” and he didn't specify where the donation should go within the athletic department. More. (link) 

USC Upstate has launched Elevate Upstate, a comprehensive five-year strategic plan designed to guide the department through 2030 and beyond. The initiative aligns with the University’s Greater 2030 strategic plan and is built on five core values: Service, Accessibility, Excellence, Collaboration, and Integrity. Spartans AD Matt Martin: “Elevate Upstate is more than a strategic plan; it is the foundation for our department’s continued growth and a vital component of the University’s broader Greater 2030 initiative. It will serve as both a compass and a catalyst for our efforts over the next five years. USC Upstate is a great place to be for students, student-athletes, coaches and staff. We have an elite alignment between our campus administration and athletics department, which will enable us to go further and faster to reach our goals.” (link) 

A Knight Commission survey of 376 university presidents, ADs, SWAs and FARs found that a “significant majority (62%) of leaders believe Division I is headed in a negative direction. This frank assessment is most pronounced among university presidents and chancellors (80%), reflecting a concern at the highest levels of institutional leadership about the stability of college sports.” More survey results…

➤ Leaders question the sustainability of the DI structure, with 62% of all respondents expressing doubt that DI remains viable as a single entity within the NCAA. This sentiment from a majority of presidents (69%) and athletics directors (55%) “may signal that the current alignment of Division I institutions is seen as increasingly unworkable,” according to the Knight Commission. 

➤ Further still, respondents indicate overwhelming concern (79%), with 48% saying they are “extremely concerned,” about their athletics programs’ “future reliance on institutional funds and student fees to balance their budgets.”

➤ Expressing the greatest amount of concern were the leaders most responsible for finances – presidents (86%) and athletics directors (80%). The survey responses did not show significant difference between the views of FBS leaders (74%) and non-FBS leaders (82%) on this question, signaling a financial sustainability issue that is affecting schools at all Division I levels.

➤ There does remain a staunch commitment to the academic mission, with 98% of leaders supporting athletes being enrolled full-time and graduating (99%). Teams meeting academic standards for postseason competition (95%) also serves as a “crucial anchor, reinforcing that the academic mission remains central to the purpose of college athletics.” 

➤ One AD remarks: “College Athletics needs real leaders. Campus presidents and ADs turn over too fast and have too much self-interest to preserve the best interest of college sports at large. We need leaders who will look out for the greater good of college sports, and will be respected by presidents, ADs, administrators, coaches, student-athletes, and fans.” 

➤ A FAR adds: “The whole enterprise is being tainted and jeopardized by money and power. Sports should give students access to higher education and to opportunities to compete and develop as human beings. I’m not opposed to paying athletes reasonable amounts in sports that generate a net profit for universities. But most D1 institutions lose money on sports.” 

➤ Lots more in the full report. (link)

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Yahoo Sports’ Ross Dellenger reports a University of California pension system investment fund is in negotiations to infuse about $2.4B in immediate cash into the Big Ten and its 18 schools to create a subsidiary, Big Ten Enterprises. Those with knowledge of the negotiations spoke anonymously on the potential 20-year agreement with the investment fund, better known as UC Investments, a $190B entity responsible for managing the system’s portfolio. A decision is expected in a matter of days with UC Investments set to “finance the potentially groundbreaking deal with the league to deliver an average of $140M to each of the conference’s schools in up-front payments.” Any decision would have to be unanimous. Dellenger continues: “All schools will receive at least $100M in up-front, one-time payments with several programs’ payouts exceeding $150M. … Eight-figure bonuses to schools are also expected in fiscal year 2037, when the Big Ten’s deal with TV partner FOX is scheduled to end, likely triggering a significant media rights fees increase. [...] How the pension fund receives a return on its seed capital is clear. UC Investments earns the annual cut of distribution plus an ability to sell its portion of the league after a 15-year ‘hold,’ when it is prohibited to sell. [...] The distributions for UC Investments could be significant and benefit hundreds of thousands of former state public university employees as part of the pension fund. This year, Big Ten’s 12 legacy schools are expected to earn about $75M each in conference payouts, a number that could rise as high as $90M under the current TV contract.” More. (link)

JohnCanzano.com’s eponymous publisher visits with Oregon AD Rob Mullens who had this to say about how cautious schools and conferences need to be related to exploring private equity investment while maintaining student-athlete higher education: “The college athletics landscape has shifted significantly over the last few years. And we all are pursuing every opportunity to modernize the operation in every way possible. And I just appreciate the leadership of [Big Ten Commissioner] Tony [Petitti] to make sure that the Big Ten stays at the forefront. They’re student-athletes first. And of our 500 student-athletes, the majority of them are going to do everything they can to take advantage of their NIL and to prepare to play professionally, but are likely going to be in a profession other than their sport. It has become much more complicated, and you’re looking for ways to modernize the commercialization. So, yeah, you would proceed very cautiously with anything that you’re doing new. But probably equally important is to be very thorough in your review because you do want to make sure that you can compete. Right now, the game has changed over the last few years. It’s largely about resources, and you need the resources or at least a baseline of resources to compete at a high level. And that’s very difficult.” More from Mullens. (link)  

Dellenger stays on a heater, reporting leaders of 31 of the 32 Division I conferences are expected to send Congress a letter today in support of the SCORE Act with the Ivy League not expected to sign. From the letter: “We believe we are on common ground not just among each other, but with members of both parties in Congress as well as the American public in our desire to have college sports return to a state of stability. We believe this because our model produces class upon class of citizens and leaders, in many cases to student-athletes who but for their athletics ability would not be able to attend college. In addition, funding and training provided by our institutions is the primary source for the U.S. Olympic pipeline. We urge you to pass the SCORE Act and look forward to continuing to work with you to develop and secure legislation that best serves the long-term interests of college sports.” Full letter. (link)

Further, the SEC has released a 30-second ad that will run during this weekend’s games telling Congress to pass the SCORE Act to “ensure the continued support of women's & Olympic sports.” Yahoo’s Ross Dellenger observes the ad highlights the addition of “more than 1,700 new scholarships for women’s sports this year.” Watch the ad. (link, link) 

On3’s Pete Nakos notes “Rep. Lori Trahan (D-MA) has sent a letter to the College Sports Commission, stating that the CSC's ‘slow, inefficient, and inscrutable process is harming athletes.’” She requests for the “CSC to send Congress data and responses to questions by Nov. 1.” Full letter. (link)

Little Rock will depart the OVC and join the UAC starting on July 1. Trojans AD Frank Cuervo: “Joining the United Athletic Conference marks an exciting new chapter for Trojan Athletics. The UAC's vision for growth and stability aligns perfectly with our mission to build champions in the classroom, in the community and in competition. This move reflects our unwavering commitment to positioning Little Rock as a leader in intercollegiate athletics during a time of great change and opportunity. As the landscape continues to evolve, we are energized by the possibilities ahead and confident that this partnership will help us elevate our programs, strengthen our national profile, and build a bright future for our student-athletes, fans, the Little Rock community and all of Trojan Nation.” CBS’ Jon Rothstein was first to officially report the move. (link, link)

North Texas AD Jared Mosley has proposed a 40% student athletic fee increase that, if passed, would roll out in increments over four years, with the fee starting at $20 before gradually increasing to $25. Mosley: “There are disparities, and we are trying to close the gap so that we can continue to remain competitive and leverage this platform of athletics, which basically [...] shines a bright light on everything. I just think with the landscape of college athletics, when you look at Texas State and UTSA [...], they have a built-in advantage from a funding standpoint currently that we would like to close that gap.” Per North Texas Daily’s Alejandra Osegueda, in order to implement a tuition fee of at least 10%, it must first be approved by a majority vote of the student body. The SGA would first create a piece of legislation that senators vote on to decide whether or not to organize a student body election, which could occur as soon as next month. (link)  

West Georgia is “learning what it means to climb” during its move from Division II to Division I athletics writes KC Smurthwaite for HERO Sports. Wolves AD Jason Carmichael doesn’t sugarcoat the challenge: “This job isn’t for everyone. But if you like being tested, if you want to help build something from the ground up, this is the place. [...] Our goal has been to reach the median across our peer set — schools like North Alabama, Austin Peay, Central Arkansas. We’re not trying to sprint. This is a 10-year move, not a 10-month one. [...] We’re just saying it out loud now. This is West Georgia territory. We know there are Auburn and Georgia fans here — even some of our alums are. However, we tell them that your investment here is ten times more impactful than at those schools. If you want what you see in Athens ten years from now, plant the seed here today. [...] This job isn’t easy. It’s not supposed to be. But when you’re part of building something — when you can see the altitude gain — that’s what makes it worth it.” More. (link)  

People & Places…

➤ UNC Asheville AD Janet R. Cone has been appointed to the NCAA’s Membership Committee, effective Sept. 20, 2025, through Aug. 31, 2027. (link) 

➤ Florida Deputy AD/COO Chip Howard announces plans to retire, effective Jan. 1, 2026, after beginning his career with the Gators back in 1989. (link) 

➤ North Alabama hires consultant/former Talladega (NAIA) AD Michael Grant as Assoc. AD for Championship Resources. (link)

➤ Michigan elevates Assistant Director of Athletic Medicine Steven Smith to Senior Assoc. Director of Athletic Medicine. (link)

➤ LIU promotes Men’s & Women’s Tennis AC Andy Goveia to serve as HC for both programs. (link) 

In offering his thanks and congratulations to the Ryan Field construction teams and project partners, Northwestern CRO Jesse Marks posts photos of “signing the final steel beam and topping off New Ryan Field.” Take a look. (link) 

Boise State announces that ExtraMile Arena management and operations will integrate with Boise State Athletics, streamlining operations and creating new opportunities for the university, student-athletes, coaches & staff, and the greater Treasure Valley community. The move supports Boise State Athletics’ recently launched What’s Next Initiative 2.0, designed to identify new and impactful revenue generation opportunities, while ensuring a cohesive strategy for maximizing the facility’s role in advancing both the department and the campus community. (link)

Another college athletics facility event: Boise State’s Albertsons Stadium is set to host Hot Wheels Monster Trucks Live on June 6, 2026. (link)

The MAC inks a multi-year strategic partnership with Rally House, designating the company as the league’s Official Merchandise Partner. Through the agreement, Rally House will lead the distribution and retail activation of officially licensed MAC apparel and accessories across both online and brick-and-mortar channels within the conference footprint. (link) 

SBJ’s Austin Karp reports DAZN has a new muitl-year agreement to distribute Fox Sports and Big Ten Network to markets outside the U.S., starting immediately during football season. The deal covers the Big Ten Football Championship and all conference football games, followed by a number of men’s and women’s basketball games and BTN studio and shoulder programming. Also included are football games from the Big 12 and Mountain West, and basketball games from the Big 12 and Big East. With some blackout exceptions, most games will be exclusive to DAZN with Big Ten games on NBC/Peacock in the U.S. unavailable in the Caribbean, Big Ten games on CBS in the U.S. unavailable in Bermuda and Fox games from the Big 12, Big East and MWC unavailable in Latin America. (link)  

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(NEWEST!) Assistant Tennis Coach - Part-time (Illinois State University / Normal, IL): The assistant coach is responsible for assisting with various coaching, management, and administrative duties of the tennis program as assigned by the Head Coach. More details HERE.

 

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