The Big Ten is “gauging investment interest from private equity firms” despite the conference’s previous opposition toward “meshing risk capital and college sports.” Investment bank Evercore, which was previously retained by the Big Ten, “fielded initial offers” from private equity firms earlier this week. A Big Ten spokesperson confirmed the inquiries but “declined to provide additional details.” Evercore's inquiries come after Big Ten Commissioner Tony Petitti “pushed back” on bringing private equity into intercollegiate sports last fall. SEC Commissioner Greg Sankey took a “similar stance.” No other conferences currently have a private equity deal, although the Big 12 “explored that route.” In 2023, the Big Ten generated $880M in revenue, which was the most among all conferences. Sportico was first to report the news of the Big Ten’s interest (REUTERS, 1/31).
Report: Big Ten to explore private equity investors
