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CNBC Sport: Utah Breaks the Private Equity Seal with Historic $500 Million Investment
The University of Utah will receive nearly $500 million from Otro Capital for a minority stake in a new for-profit venture to address a $17 million athletic deficit in 2024.
- The University of Utah has partnered with Otro Capital to create Utah Brands & Entertainment, a for-profit entity managing its athletic operations, which is expected to generate over $500 million in support for the sports program.
- Otro Capital is providing financial support to the University of Utah's athletic department, expecting to generate over $500 million in capital.
- Utah Brands & Entertainment will oversee ticket sales, sponsorships, and events while the university retains control over team operations.
- The agreement was announced to address Utah's deficit of $17 million in fiscal 2024, highlighting growing financial pressures in college athletics due to increased costs and competition for talent.
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11 Articles
11 Articles
How will the proposed Utah Athletics private equity deal impact fans? Expect ticket, merch prices to rise
Utah Athletics private equity deal: Utah athletic director Mark Harlan acknowledges ticket prices will rise, but says “common sense” has to be used.
·Salt Lake City, United States
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Here’s what you need to know about the University of Utah’s private equity athletics deal right now
Want to know more about Otro Capital and how it might operate in its newly announced partnership with the University of Utah's athletic program? Here's what we know so far.
·Salt Lake City, United States
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Coverage Details
Total News Sources11
Leaning Left3Leaning Right1Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
Factuality
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