Sports
Sources: Big Ten closes in on private equity deal
The Big Ten is closing in on voting on a private capital agreement that will infuse league schools with more than $2 billion, industry sources told ESPN.
There’s been momentum within recent days for the deal to push forward, and the structure of the complicated agreement is coming together. A vote is expected in the near future, per sources.
The framework calls for the formation of a new entity, Big Ten Enterprises, which would hold all leaguewide media rights and sponsorship contracts.
Shares of ownership in Big Ten Enterprises would fall to the league’s 18 schools, the conference office and the capital group — an investment fund that’s tied to the University of California pension system. Yahoo Sports first reported the involvement of the UC investment fund.
The pension fund is not a private equity firm, and the UC fund valuation proved to be higher than other competing bids. This has been attractive to the Big Ten and its schools, according to sources.
A source familiar with the deal said there’s been momentum in recent days, but the league is still working with leadership to make a final decision.
The exact equity amounts per school in Big Ten Enterprises is still being negotiated. There is expected to be a small gap in equity percentage between the biggest brands and others, however it is likely to be less than a percentage point.
ESPN reported last week that a tiered structure is expected in the initial allocation of the $2 billion-plus in capital, with larger brands receiving more money. Each school, however, would receive a payout in at least the nine-figure range, sources said.
The deal would call for an extension of the league’s Grant of Rights through 2046, providing long-term stability and making further expansion and any chance league schools leave for the formation of a so-called “Super League” unlikely.
Traditional conference functions are expected to remain with the conference. Any decision-making within Big Ten Enterprises would be controlled by the conference. The UC pension fund would receive a 10% stake in Big Ten Enterprises and hold typical minority investor rights but no direct control.
The money infusion is acutely needed at a number of Big Ten schools that are struggling with debt service on new construction, rising operational expenses and providing additional scholarships and direct revenue ($20.5 million this year and expected to rise annually) to athletes.
The Big Ten has argued that the deal would alleviate financial strain and help middle- and lower-tier Big Ten schools compete in football against the SEC.
ESPN first reported last week that the league was in detailed conversations about the deal.
Big Ten Enterprises would be tasked with not just handling the league’s valuable media rights (the current seven-year, $7 billion package runs through 2030) but trying to maximize sponsorship and advertising deals leaguewide such as jersey patches or on-field logos.
“Think of it this way — the conference is not selling a piece of the conference,” a league source told ESPN last week. “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 deal has not been without detractors, with both Michigan and Ohio State — the league’s two wealthiest athletic programs — expressing skepticism initially, per sources. Each school has been hit with significant lobbying not just from the league office but also other conference members to come to an agreement.
Politicians in a number of states have also voiced opposition, including United States Senator Maria Cantwell (D-WA) who stated Thursday, “You’re going to let someone take and monetize what is really a public resource? …That’s a real problem.”
Cantwell followed up Friday by sending a letter to each Big Ten president warning that any deal involving private equity could invite review, including impacting the schools’ tax-exempt status.
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One of the most intriguing stories entering the first round of the NFL Draft was where Alabama quarterback Ty Simpson might land. Well, fans got their answer sooner than they expected.
The Los Angeles Rams surprisingly selected Simpson with the No. 13 pick in the 2026 NFL Draft.
The selection isn’t completely out of left field and is arguably the best-case scenario for Simpson. The Rams have Matthew Stafford as their starter for 2026, but Stafford has flirted with the idea of retirement each of the past two offseasons. It’s clear the clock is ticking on his NFL career.
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The Los Angeles Rams pulled a stunner and drafted Alababam QB Ty Simpson with the No. 13 pick in the NFL Draft. (CFP/Getty Images)
Now, Simpson gets to sit behind one of the NFL’s best veteran quarterbacks, learn the position while adapting to life in the NFL, and not face immediate pressure to succeed. Additionally, the Rams are one of the most well-run franchises in the league right now. Sean McVay is an elite head coach who led the team to a Super Bowl victory to cap the 2021 season and just had the team within one win of another Super Bowl berth before falling to the Seattle Seahawks in the NFC Championship.
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The most surprising aspect is the Rams looking toward the future, quite frankly. This is a team that has had no problem trading away first-round picks to make its team the best it can be each season. It seemed most likely the team would use the No. 13 pick to improve its team for next season, which could be Stafford’s last. Instead, the team decided to put itself in position for Stafford’s retirement without skipping a beat.
Los Angeles Rams QB Matthew Stafford, now 38-years-old, has flirted with retirement after each of the past two seasons. (Kevin Sabitus/Getty Images)
There were several surprises in the first 13 picks of the 2026 NFL Draft: the Cardinals taking Notre Dame running back Jeremiyah Love at No. 3, the Titans selecting Ohio State wide receiver Carnell Tate at No. 4, the Kansas City Chiefs trading up to take LSU cornerback Mansoor Delane at No. 6 and even the Cowboys trading up one spot to make sure they drafted Ohio State safety Caleb Downs at No. 11.
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But the Rams completely abandoning their recent strategy (usually trading away first-round picks and loading up for now) to select Stafford’s heir apparent is easily the biggest early shock of the 2026 NFL Draft.
Sports
Yankees owner Hal Steinbrenner considering factors before debuting new alternate uniforms: report
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The choice for the New York Yankees to wear their new alternate uniform is ultimately up to owner Hal Steinbrenner, who has shown a knack for change in recent years.
And according to The Athletic, Steinbrenner and others in the front office will decide when the time is right based on some factors.
The outlet noted that economic impact, how often they’ll be worn, and how fans feel about the jerseys will all be key considerations in deciding if, and perhaps when, the jerseys will be worn.
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Manager Aaron Boone of the New York Yankees makes a pitching change during the fifth inning of a spring training game against the Tampa Bay Rays at Charlotte Sports Park in Port Charlotte, Florida, on March 17, 2026. (Nick Cammett/Diamond Images)
Hours after The Athletic reported that players had gone to higher-ups about the idea, it was revealed that an alternate jersey had in fact been approved prior.
The Yankees’ navy blue batting practice tops, similar to their road spring training uniforms, were the ones that were approved to be worn in games.
The Yankees have taken part in wearing different jerseys in the past, including Players’ Weekend from 2017 through 2019, a nod to the 1912 team while playing in Boston on the 100th anniversary of Fenway Park’s opening, and jerseys commemorating the Black Yankees in 1996. The Yankees also wore replicas of their 1921 road uniforms for the first Field of Dreams game in 2021.
Paul Goldschmidt, Ben Rice and Cody Bellinger of the New York Yankees wait for the start of a spring training game against the Chicago Cubs at Sloan Park in Mesa, Arizona, on March 24, 2026. (Chris Coduto/Getty Images)
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However, none of those jerseys were ever officially put into the rotation, leaving them with just a home and road uniform from day one.
The Yankees also remain the only team to have no last names on the back of their jerseys, home or away, and they are also one of two teams, including the Athletics, without a City Connect jersey.
The Yankees added an advertisement patch on their jerseys in 2023, and beginning last year, “well-groomed” facial hair below the lip was reintroduced after a 50-year ban by Steinbrenner’s father, George.
Yankees players reportedly said they want the home pinstripes untouched and would wear the alternates on the road.
Aaron Judge of the New York Yankees bats against the Chicago Cubs during the first inning of a spring training game at Sloan Park in Mesa, Arizona, on March 23, 2026. (Christian Petersen/Getty Images)
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The Yankees sell navy blue “shirseys” that mimic the tone of their spring training uniforms, but the pinstripes have been even more prevalent in home spring games in Florida.
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Fernando Mendoza, the 2025 Heisman Trophy winner and projected No. 1 overall pick, is poised to begin his NFL career under the mentorship of one of the greatest quarterbacks of all time.
Mendoza, who led Indiana to a national championship during an undefeated 16–0 season, revealed this week that he spoke with Tom Brady during his official visit with the Las Vegas Raiders, who own the top pick in this year’s draft.
Indiana Hoosiers quarterback Fernando Mendoza celebrates after defeating the Miami Hurricanes in the College Football Playoff national championship game at Hard Rock Stadium in Miami Gardens, Fla., on Jan. 19, 2026. (Mark J. Rebilas/Imagn Images)
Appearing on the “Dan Patrick Show” Wednesday, Mendoza revealed the advice Brady, a minority owner of the Raiders, shared with him during their meeting.
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“It was fantastic. He gave me the message that he’s going to push me, and he’s not going to be all lovey-dovey. And that if the Raiders draft me, he’s going to be a mentor and wants to pour into whatever quarterback the Raiders have — whether it’s me, whether they draft somebody else.”
Mendoza added that the offseason addition of veteran quarterback Kirk Cousins presents another learning opportunity for the young signal-caller.
Tom Brady attends the Super Bowl between the Seattle Seahawks and New England Patriots at Levi’s Stadium Feb. 8, 2026. (Mark J. Rebilas/Imagn Images)
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“Well, if I’m lucky enough to go to the Raiders, I think it’ll be a great opportunity to learn from someone who’s had so much success throughout the years and who, I think, has a very similar playing style as me.”
Mendoza will likely not take starting reps in Las Vegas. Brady and general manager John Spytek have said numerous times they believe in not playing a young quarterback right away.
Indiana quarterback Fernando Mendoza passes against Miami during the first half of the College Football Playoff national championship game in Miami Gardens, Fla., on Jan. 19, 2026. (AP Photo/Rebecca Blackwell)
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The Miami native will not be in Pittsburgh to walk across the stage and be welcomed into the NFL by Commissioner Roger Goodell on Thursday night. He will instead be home with his family, citing his mother’s multiple sclerosis diagnosis.
Fox News Digital’s Ryan Canfield contributed to this report.
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