Sports
Sources: USC, U-M question Big Ten capital deal
The Big Ten’s proposed $2 billion-plus private capital deal is facing headwinds after a joint meeting Tuesday afternoon between trustees at Michigan and USC led to unified questions about the plan, sources who were on the call told ESPN.
The two schools discussed their shared skepticism during the call. One sticking point: The deal doesn’t address the root issue — soaring costs — that has made the need for cash so imperative for athletic departments. Just providing short-term money, sources said, does not solve that issue.
The schools also noted pending federal legislation that makes predicting the future of college athletics difficult as well as a general apprehension at selling equity in a university asset (the conference media rights).
Both Michigan and USC believe there are funding options that can provide superior terms and would like to slow the process and explore them, sources said. The goal, the meeting agreed, should be to help the Big Ten schools that need money but at the most favorable terms imaginable without giving up equity.
Although the questions are numerous, it is not certain how much influence the trustees can yield on the proposal, let alone change or even stop the process. The complicated agreement remains fluid and continues to be negotiated and worked on, meaning despite the current opposition, a deal still might be worked out.
That said, having two of the league’s biggest and most storied athletic brands against it is not insignificant.
The framework of the groundbreaking deal would send a significant infusion of money (in the range of $100 million at minimum) to each of the Big Ten schools. In exchange, the league would spin off a new entity, Big Ten Enterprises, which would hold all leaguewide television rights and sponsorship contracts through 2046. Individual schools still would retain local radio and other deals.
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. The UC pension fund would receive a 10% stake in Big Ten Enterprises and would hold typical minority investor rights but no direct control, sources said. The exact equity amounts per school in Big Ten Enterprises are still being negotiated.
There is expected to be a small difference in the percentage of the remaining equity between the schools that would favor the league’s biggest athletic brands, but it is likely to be less than a percentage point. There is also expected to be a tier system for initial payments, with the lowest amount in the nine-figure range. Larger athletic departments could receive above $150 million.
The deal would call for an extension of the Big Ten’s grant of rights through 2046, providing long-term stability for the conference and making both further expansion and any chance schools leave for the formation of a so-called super league unlikely.
A conference-wide call with league presidents and athletic directors on the deal was tentatively planned for Thursday, but there might be more work to be done before then if winning Michigan and USC over is possible. No official vote has been scheduled.
“Setting up a structure that can maximize that activity is important,” Big Ten commissioner Tony Petitti said last week at the league’s basketball media days. “Whether or not we need a strategic investment to help us, we’ll determine. But it’ll be done by all 18 leaders, and I think it’s no different than looking at the other buckets that we have to maximize resources. It’s one other avenue that may or may not be available to us.”
Although governance over campuses varies by institution, both USC and Michigan have interim presidents, meaning their boards of trustees might carry more influence than normal, especially on a 10-figure deal that could span decades.
The pension fund is not a private equity firm, which has been attractive to the Big Ten and its schools. The UC fund valuation proved to be higher than other competing bids, sources said, which made it attractive.
The money infusion is believed to be 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.
Just this week, Penn State terminated the contract of football coach James Franklin and could owe as much as $49 million, although that figure could be mitigated lower.
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.
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Cameras showed former New York Giants co-owner Steve Tisch in the team’s draft room Thursday night during the first round.
At one point, Tisch was seen standing near Giants head coach John Harbaugh. Despite no longer holding a majority stake in the NFL franchise, Tisch remains the Giants’ chairman of the board.
ESPN obtained an NFL memo last month detailing plans by Steve Tisch and his siblings to transfer their stake in the Giants to trusts for their children.
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New York Giants co-owner Steve Tisch warms up before the NFL game between the Washington Redskins and New York Giants at Met Life Stadium in East Rutherford, N.J., on Oct. 28, 2018. (Rich Graessle/Icon Sportswire)
“Prior transfers to these Trusts were completed pursuant to 2023 and 2024 Finance Committee approvals,” the memo stated. “The Sellers now propose to transfer their entire remaining interests, totaling 23.1% of the Club, to the Trusts. … Following the transactions, the Sellers will no longer own any interest in the Club.”
It was not clear if the transfer requests were in any way related to Tisch’s name appearing in the Epstein files released by the U.S. Justice Department in January. Tisch’s name came up more than 400 times in the files. Tisch at the time said he knew Epstein but denied visiting Epstein’s island.
As for draft night, the Giants made what some viewed as an unconventional pick at No. 10, selecting offensive lineman Francis Mauigoa.
Francis Mauigoa of Miami celebrates after being selected as the tenth overall pick by the New York Giants during the first round of the 2026 NFL Draft at Acrisure Stadium in Pittsburgh, Pa., on April 23, 2026. (Emilee Chinn/Getty Images)
Before that, the Giants added another piece to their pass rush, selecting hybrid edge/off-ball linebacker Arvell Reese at No. 5.
Reese earned All-American honors at Ohio State and finished his first season as a full-time starter with 6.5 sacks.
Arvell Reese of Ohio State celebrates after being selected as the fifth overall pick by the New York Giants during the first round of the 2026 NFL Draft at Acrisure Stadium in Pittsburgh, Pa., on April 23, 2026. (Emilee Chinn/Getty Images)
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Reese is set to join a pass rush that includes Brian Burns, Abdul Carter and, likely, Kayvon Thibodeaux.
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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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