The Univ. of North Carolina is “preparing to unveil a new limited liability company (LLC) to manage major components of its athletic department,” according to sources cited by Greg Barnes of INSIDE CAROLINA. The LLC, referred to as an affiliated entity (AE), was announced “behind the scenes at a recent athletic department staff meeting” and will be a “separate organization tied to the university, serving as a fiduciary for its commercial assets while remaining aligned with university oversight.” Sources said that it is “expected to have a board of directors with fiduciary duties.” Barnes noted the “primary purpose” of the AE is to “facilitate corporate sponsorship monetization, as well as ticketing and event management and optimization at UNC athletic venues.” UNC’s AE will become a “fiduciary for the commercial assets it manages, not for the state of North Carolina.” It is “not bound by the same disclosure requirements that govern state agencies, and operates with confidentiality, efficiency, and competitive positioning in mind.” Kentucky made news a year ago by rolling its athletic department into Champions Blue, LLC. UNC’s AE is “different in structure.” The AE, which is “likely to be staffed by current UNC employees,” will “serve as the place where commercial deals are placed, routed, and financially executed” (INSIDE CAROLINA, 7/1).
Report: UNC to launch LLC for athletics commercialization
