In the era of revenue sharing, NIL and ever-increasing budget deficits, college athletics programs across the country are turning to new sources of funding to stay competitive. One common answer has been private equity.
The Big Ten proposed a $2.4 billion private equity deal in 2025, University of Utah mulled a $500 million private equity plan around the same time and Florida State considered private equity dating back to 2023.
Related: How the Big Ten’s Proposed $2.4B Private Equity Plan Would Work, and What It Might Cost
However, not all programs are keen on the idea. According to Sports Illustrated, BYU athletic director Brian Santiago has ruled out private equity for the Cougars.
"That's something that everybody knows [that we will not participate in private equity]," Santiago said. “And, when it comes up in the room, even in the Big 12 room as they have looked at a lot of different things, it's pretty clear, and I just remind everybody BYU will not be participating."
While BYU declines the prospect of private equity, the Big 12 has considered selling a percentage of its ownership to fund initiatives throughout the conference. In December, the Big 12 considered a $30 million per school deal with RedBird and Weatherford Capital. The conference also considered a deal that would allow the conference to maintain 100% of its ownership, but rely on partners for lines of credit that each school could take advantage of.
Still BYU will not be partaking. That is due in part to the school’s ownership, The Church of Jesus Christ of Latter-day Saints. The church, as an institution, does not borrow money.
"That's a strength for us. Our governing board is for us very, very important, and we're going to live within the principles that we've been taught, and we're having great success doing it that way," Santiago said.
