FWIW, non-profits can be incorporated entities.
1 Like
What could possibly go wrong here???
Seriously though. I think whover this private equity group is (and I think I heard it was a European group named CVC and if so thatâs th same group that bought into F1 back in the day and the sold to current owner liberty media) they must have money they donât know what to do with.
Cause investing in college sports is risky, equity stake into a conference is risky.
They would be dealing in some instances with state universities which means that states could possibly invalidate their contracts or ownership rights somehow using the âpower of the stateâ.
I wouldnât put a dime into the Big12. Itâs crazy.
Sweeney is correct plus no paywall for this edition of Extra Points. And, as usual, thorough work from Brown
This is generally true, but when there is a profit sharing agreement with the private equity groupâŚ
Iâm no tax lawyer, just applying common sense. Can definitely see the IRS challenging this.
Yep, seems like a lot of lawyers will be involved to sort things out and not just for the PE firms and the conferences. Would think also the individual schools and for those that are publics, system and/or state legal teams as well.
Old enough to remember Miami-FL not having a menâs basketball team. And there were talks in the 1970s about disbanding the football team as well.
1 Like
From a 2019 Mercury News (San Jose, CA) piece. That 3rd paragraph is really something in hindsight:
https://x.com/FeitCanWrite/status/1801307954055987434
Laughed way harder at this than I should have.
1 Like
Wonder how that would affect the Big XIIâs long assocation with Phillips 66. And speaking of the latter:
clt says someone needs to ask ja rule
When we were in CUSA and were on BEIN l always wondered if Judy could have in theory sold that conference to saudi oil tycoons to generate more revenue for the conference to try to get more money pumped into the league to even out the playing field somewhat with the other conferences. sort of what like happened to PSG or La Liga to an extent. anyway I guess I cant rule out that possibility now of that some day happening. Iâm also going to stick with my prediction that regionalism in college sports that some people want (not me) is dead at this point even at our level so people might have to have get used to that.
Who knows maybe the aac should explore trying to group together as many large market teams that are still left after things blow up as possible and see if they can get equity from china or someone in exchange for making it easier to get more of their students to attend college in the states at our universities. just throwing ideas out there.
2 Likes
Just a reminder that a commissioner can make a recommendation but itâs up to the board of directors to actually approve or not.
Sounds like a future 30 for 30 episode.
1 Like
Truly surprised something like that never ran in the local paper here. âCharlotte should drop sports as they are a disservice to our Chapel Hill overlords.â
2 Likes
Well we were told we didnât need a football team because there was one in chapel hill.
1 Like