fromESPN.com
3 days agoWetzel: Beware, college sports, private equity has arrived
The University of Utah approved a private equity deal Tuesday that promised hundreds of millions of dollars for the school's athletic department, which like nearly every athletic department in the country is running an annual deficit. The Utes need money. Otro Capital of New York, a firm that seeks investments in sports, sees an opportunity. The company is offering more than $400 million to the school, a source told ESPN, plus Otro's operational expertise, to generate new revenue streams for the department.
Fundraising