The Big Ten is reportedly in discussions about a private capital deal that would bring at least $2 billion into the league and it's member schools.
According to ESPN, the discussions include a 10-year extension of the league's grant of rights until 2046, which would ensure long-term stability in the Big Ten.
The discussions have been going on for months and multiple iterations of the deal have been presented.
While all of the league's members appear to be on board, Ohio State and Michigan are still in discussions with the league on the matter. A decision is expected in the upcoming weeks.
ESPN reported that the setup would create a new commercial entity within the Big Ten that would house all revenue generation, such as media rights, sponsorships and other revenue streams.
The working title for the new entity is Big Ten Enterprises, sources told ESPN.
"Think of it this way — the conference is not selling a piece of the conference," a league source told ESPN. "Traditional conference functions would remain 100 percent with the conference office — scheduling, officiating and championships. The new entity being created would focus on business development, and it would include an outside investor with a small financial stake."
The Big Ten believes its ability to generate revenue has been limited, and this structure would sharing a small percentage of greater profits with an outside entity.
"Our membership has clearly expressed the need to modernize the operations and structure of our conference to ensure that the Big Ten remains best positioned to offer the highest level of athletic and academic excellence in a rapidly evolving landscape," a Big Ten spokesperson told ESPN in a statement when asked about the private capital.
"Over a year ago, we initiated a comprehensive evaluation of our practices to identify partnerships that could secure the financial stability of our member institutions and allow us to not only protect, but expand, opportunities for our student-athletes. This is an ongoing process, and we remain committed to finding a path that strengthens the conference for the future."
