Kenny Blakeney is a Duke grad who has former teammates and classmates who are working in high level finance and professional and college sports. Howard University might be in an enviable position over the next few years. The President of the USA might be a Howard alum and could drop in for a few games a year against top 10 teams in DC.
Thatâs definitely thinking outside the box but Blakeney should have run it past the AD at the minimum before pursuing it and certainly before making it public. Gotta think the HU prez and BOT were really caught off guard to learn through the media of such a plan.
So Howard basketball is valued at 300 million?
I find that hard to believe.
Who the hell is paying that?
What are you buying?
HOW do you buy part of a college team?
WHY would you buy part of a small time team thatâs in the red (presumably)?
This is madness.
With money you could build a premier HBCU in the nations capital into a power. Theres marketability and money in that if you succeed.
Private equity isnât going to throw money at programs and just continue status quo. This is an opportunity for investors to own sports teams that cannot afford the limited professional ownership opportunities.
I donât like it, but thatâs the angle.
I would contend that no team in the MEAC can be built into a power.
I also have a serious question.
How do you own a college team?
Especially a state U or a federally chartered one like Howard? Does Howard still have federal ties or are they fully private?
How do you own any college team when the majority of their revenue is through federal student loans.
This is an aside but how do private universities get away with not answering FOIA requests when they receive federal loan dollars???
If they have to abide by title 9 they should have to abide by other laws.
I would love to see them survive without federal funds. How many could do that?
Typically, when you buy an equity share in a business, you are entitled to a share of the profits.
What profits? Are they buying a share of TV contract and CFP payouts?
Doesnât make much sense.
It sounds more like a licensing co-agreement. Youâre buying the right of association, both ways.
clt says that is BS, the cost of a ticket to watch duke mbb is not going down with private equity involved
Whereâs that meme of Neylandâs field looking like a NASCAR drivers suit?