Sports
Sources: Big Ten closes in on $2 billion capital deal

The Big Ten is closing in on voting on a 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.
Sports
The race to be No. 9: Which strikers will the USMNT take to the World Cup?

For the past two FIFA World Cup cycles, the starting striker spot for the U.S. men’s national team has been a seemingly unsolvable puzzle, with none of the candidates able to grab a firm hold of the spot. It wasn’t always this way.
Eric Wynalda and Brian McBride led the U.S. line during the 1990s and 2000s. Jozy Altidore and Clint Dempsey carried the flag through the 2014 World Cup and slightly beyond, although it’s worth noting that Dempsey spent a significant chunk of his international career in a midfield role. The same was true for Landon Donovan.
Since then, the search for a starting central striker has taken on holy grail-like qualities.
The 2022 World Cup cycle never did reveal a forward who could deliver on a consistent basis. Jesús Ferreira, Jordan Pefok, Ricardo Pepi, Josh Sargent and Gyasi Zardes were all given starts during World Cup qualifying. For a time, it looked like Pepi would emerge, but he faded toward the latter part of the cycle — mostly due to a lack of playing time at club level — and was beaten to the roster selection tape by Haji Wright. An injury to Sargent at the World Cup, combined with ineffectiveness by Ferreira and Wright, meant that the U.S. didn’t get as much out of the position in Qatar as they would have hoped.
This cycle has been even more muddled. Pepi, Sargent and Wright remain in contention, joined by Folarin Balogun and Patrick Agyemang. And while Balogun has gained a bit of daylight between himself and the other potentials thanks to an impressive performance in a recent friendly against Japan, he hasn’t secured the spot just yet.
With the October window featuring friendlies against Ecuador and Australia, here’s where things stand in the race to wear the No. 9 for Mauricio Pochettino’s USMNT at next summer’s World Cup, and a statistical comparable player for the five in contention to start up top come June.
Folarin Balogun | 24 | AS Monaco
When Balogun committed to the USMNT in May of 2023 — he was also eligible to represent England and Nigeria — he was thought to be the USMNT’s long-term answer to the striker position. Initially there was a payoff: he scored in the 2023 Concacaf Nations League final against Canada, and was one of the few players to come out of the 2024 Copa América with any credit. But injuries, including a recurring shoulder ailment that required surgery in December 2024, prevented him from getting a vice-like grip on the position.
Balogun’s mobility allows him to get behind opposition defenses. The problem has been that the U.S. attack hasn’t always proved itself adept at finding him in those positions. But Balogun’s movement has the added benefit of pulling defenders out of position, the better to create space for the likes of Christian Pulisic, Timothy Weah or Alejandro Zendejas.
The Japan game in September showcased the full repertoire of his skills, and he even demonstrated he can play with his back to goal and hold the ball up if asked. Even in the loss to South Korea, the U.S. attack looked a lot more dynamic once Balogun entered the match as a substitute in the 62nd minute.
The only doubts surround his durability, as well as getting consistent playing time at Monaco, where the competition for places has been fierce. He has just one goal and one assist in league play this season, covering 332 minutes.
Statistical comparable: Nicolas Jackson. Balogun has proved to be a willing runner and ball carrier with solid shot and goal creation. In the past three years, he has averaged 0.50 goals from 3.69 shots per 90 minutes. Unfortunately, like Jackson, he has also proved to be a pretty poor finisher — those 0.50 goals per 90 come from shots worth 0.70 xG per 90. — Bill Connelly
Wright is the only U.S. center forward with a World Cup goal to his name. Granted, he didn’t seem to know much about his tally in the round-of-16 defeat to the Netherlands at the 2022 World Cup, but a goal is a goal.
Given the disdain Pochettino has for player reputations, more pertinent to Wright’s cause is the blistering form he has been showing in the English Championship this year, where his eight goals are tops in the league and have propelled Coventry to the top of the table.
Wright has some versatility to his game. His 6-foot-3 frame allows him to be a force in the air, but he’s also quick enough to play on the wing, which he has done on occasion for Coventry and the USMNT. His ability to sniff out chances is impressive as well. His tally from less than 2 yards in last weekend’s 5-0 demolition of Sheffield Wednesday showed his ability to be in the right place at the right time.
What’s holding Wright back? There were times during the last World Cup where he seemed slow to react to attacking opportunities. Perhaps the moment got to him. While that was almost three years ago, it’s an image that will stick in the memory until he delivers on a bigger stage.
Statistical comparable: Randal Kolo Muani. Wright isn’t quite the passer that Kolo Muani can be, but he scores (0.56 goals per 90 minutes), and he really pushes the ball. He has averaged 6.1 progressive carries per 90 in the past three years, drawing 1.42 fouls per 90 in that span. That creates a rare profile and makes Kolo Muani the best comp. — Connelly
During last week’s conference call in which he announced the U.S. roster for the October window, Pochettino said that Agyemang offers a different profile to Balogun and Wright, one derived from his physical presence — he’s 6-foot-4 — and his aerial ability. Those traits were on display in Derby County’s 1-1 draw with Southampton last weekend, when Agyemang towered over a Saints defender to head home the Rams’ only goal of the day.
Agyemang is a raw talent, however, and he struggles at times with his touch and hold-up play. But he seems perfectly suited to score an ugly goal late in a match, if necessary, and his passing has seen him earn two assists already in 307 minutes in the EFL Championship.
Agyemang’s chances of securing a World Cup roster spot are, like so many players, down to health and the numbers game Pochettino will have to play. If Pochettino only opts to bring three forwards, and a player like Pepi is healthy, Agyemang may be one of the final cuts. But his “different profile” may be what gets him in, especially if Pochettino opts for four strikers.
Statistical comparable: Olivier Giroud. Agyemang is excellent in the air (47.5% aerial success rate), and he’s happy to draw lots of contact (2.05 fouls per 90 suffered, 0.92 in the attacking third). That makes him awfully Giroud-like, as does quality finishing — he averages 0.51 goals from shots worth 0.40 xG, and 90% of his shots have come from inside the box — although his shooting totals aren’t huge, and he’s not involved elsewhere on the pitch. — Connelly
Three years ago, Pepi was the odd man out in terms of the U.S. roster that went to Qatar. It proved a mistake, when the U.S. was left starting Ferreira against the Dutch. Now Pepi is aiming to be on the 2026 squad — that is, if his body will let him.
The 2025 calendar year has seen Pepi struggle with his fitness. He sustained a knee injury in the UEFA Champions League game against Liverpool last January that later required surgery, forcing him to miss last summer’s Gold Cup. Pepi’s recovery since then has been stop-start; he was brought along slowly by PSV, and looked to be back after scoring twice against NEC Nijmegen last month, but a recent muscle injury has him back on the shelf. It isn’t thought to be serious, but it prevented him from taking part in this camp.
While Pepi has several impressive attributes, his movement allows him to sniff out opportunities and get on the end of passes that other forwards might miss. Combine this with his link-up play and you have a forward capable of contributing plenty to the U.S. team. But time is running out for Pepi to make a bigger impression.
Statistical comparable: Lautaro Martínez. More than any other forward from this list, Pepi gets himself involved, just as Martínez does. His offensive numbers are inflated by playing in the Eredivisie, but they’re still excellent (0.74 goals and 1.36 chances created per 90 minutes), and he’s proving to be a reliable finisher (those goals came from shots worth 0.52 xG). He also shows up in defense, averaging a stellar-for-a-forward 5.53 defensive interventions per 90. — Connelly
1:14
Should Pochettino be worried about not knowing his best USMNT XI?
Jeff Carlisle looks ahead to the upcoming international window for Mauricio Pochettino and the USMNT.
Rarely has the difference between a player’s club form and his international form been as stark as it is with Sargent. The O’Fallon, Missouri, native has hit double-digit goals in each of his past three full seasons with the Canaries in the Championship, and he’s well on his way this year with five goals in nine league matches. It makes Sargent’s barren spell with the USMNT — he hasn’t scored for the U.S. in his past 17 international appearances, dating back to November 2019 — all the more confounding.
Perhaps his streak is down to the fact that while Sargent does plenty of things well — be it his movement, his link-up play and yes, his finishing, too — there isn’t one aspect of his game that seems elite enough to help him be a difference-maker at a World Cup.
Pochettino seems to have noticed, too. Even with Pepi injured this window, there wasn’t room for Sargent among the forwards on the roster. He does have World Cup experience, and that counts for something, but it may not be enough.
Statistical comparable: Moise Kean. Sargent is the most statistically nondescript of the American forwards on this list, but like Kean, he’s a willing presser (4.09 defensive interventions per 90 minutes since the start of 2024-25) and above-average finisher (0.56 goals per 90 from shots worth 0.48 xG). His shot totals are always lower than you would prefer, though (2.43 shots per 90), and he doesn’t stand out as a passer. — Connelly
Balogun, Pepi, Wright and Agyemang look to be in position to make the World Cup squad, in that order. Four forwards might seem like one too many, but these four all have different profiles that can help the USMNT at various times. Flexibility is vital in a tournament like the World Cup.
In terms of who starts, Balogun has the inside track at the moment, but that situation can change quickly. At this stage, it looks like the only way Sargent makes it back to the World Cup is if others get injured or suffer a significant drop in form.
Sports
Browns name Shedeur Sanders as backup quarterback following Joe Flacco trade to Bengals

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Cleveland Browns head coach Kevin Stefanski announced Friday that Shedeur Sanders will be the team’s backup quarterback for their game against the Pittsburgh Steelers.
The Browns traded Joe Flacco to the Cincinnati Bengals on Tuesday, opening the door for Sanders to be added to the active roster for the first time in his career. In the team’s first five games, he was the emergency third-string quarterback.
Flacco struggled as the Browns went 1-3 in his four starts while he completed just over 58% of his passes for 815 yards with two touchdowns and six interceptions before being benched for Dillon Gabriel. Flacco served as the team’s backup in the team’s loss to the Minnesota Vikings in Week 5.
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Shedeur Sanders, No. 12, of the Cleveland Browns, warms up before an NFL football game against the Detroit Lions at Ford Field on Sept. 28, 2025, in Detroit, Michigan. (Todd Rosenberg/Getty Images)
Stefanski did not commit to Sanders being the backup quarterback on Wednesday, making fans wonder if they would have opted to promote practice squad quarterback Bailey Zappe instead. Zappe started the team’s season finale in 2024.
Sanders said he was excited about the possibility of backing up Dillon Gabriel on Thursday.
SHEDEUR SANDERS RESPONDS TO REX RYAN’S ‘EMBARRASSMENT’ CRITICISMS, EXPLAINS RECENT ‘MIME’ ACT

Cleveland Browns quarterback Shedeur Sanders (12) runs the offense during training camp at CrossCountry Mortgage Campus. (Ken Blaze/Imagn Images)
“I’m in a great mental space overall,” Sanders said. “I would say you tend to get a little bit more excited when you see a light at the end of the tunnel, for sure. … Whatever my role is here, I’m thankful. I’m happy just to do that.”
Gabriel made his first career start in the team’s 21-17 loss to the Vikings last week in London. The 24-year-old completed 57.6% of his passes for 190 yards and two touchdowns in the loss.
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Cleveland Browns quarterback Shedeur Sanders (12) warms up before the game against the Detroit Lions at Ford Field in Detroit, Michigan, on Sept. 28, 2025. (David Reginek/Imagn Images)
The Browns (1-4) take on the Pittsburgh Steelers (3-1) on the road Sunday at 1 p.m. ET.
The Associated Press contributed to this report.
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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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