Sports
Sources: Big Ten mulling $2B private capital deal
The Big Ten is in discussions about a private capital deal that would infuse at least $2 billion into the league and its schools, sources told ESPN on Wednesday.
The discussions include a 10-year extension of the league’s grant of rights until 2046, sources told ESPN, which would ensure long-term stability in the Big Ten.
According to sources, the private capital deal and grant of rights extension have been discussed for months and presented in multiple forms. A deal and the grant of rights extension would also be a distinct blow to the outside entities attempting to form super leagues around college sports.
While there is support from nearly the entire league, according to sources, a few of the league’s biggest brands — including Ohio State and Michigan — are still in discussions with the league. The aim is to have unanimous support before a vote, sources told ESPN.
A decision on the private capital deal is expected in the upcoming weeks from the schools in the Big Ten, sources said, and nothing is considered imminent or certain. There are three different private capital entities being considered by the Big Ten, sources told ESPN, and the league has not taken a vote on any plan.
Like most businesses, athletic departments can always use more money to cover ever-increasing costs. The need is particularly acute now for schools with middle and lower revenues within the league after the NCAA’s recent settlement of legal cases that has led to direct revenue sharing with athletes.
The setup being discussed, sources said, is that this will essentially be the formation of a new commercial entity within the Big Ten that would house all revenue generation such as media rights, sponsorships and league revenue streams.
The working title for the new entity is Big Ten Enterprises, sources told ESPN.
The private capital company would get money back through the new entity through annual distribution in proportion to its financial stake. The Big Ten will essentially have 20 equity shares, comprising the 18 schools, the league and this investor.
Sources told ESPN that this setup eliminates the need to give an outside investor a specific portion of control over decisions or board seats, something that college presidents have generally been uncomfortable with.
“Think of it this way — the conference is not selling a piece of the conference,” a league source told ESPN. “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.”
One of the philosophies behind the proposed move, which is being shepherded by Big Ten commissioner Tony Petitti, is that the league believes its ability to generate revenue holistically has been underserved, and it would be sharing a small percentage of greater profits with the outside investor.
It also helps the league potentially better scale and leverage its 18 members.
Another source familiar with the Big Ten’s discussions summed it up this way: “We’re underselling the strength of what we do the way we are structured. This is a way to organize ourselves better.”
As a micro example of that, Nebraska athletic director Troy Dannen was quoted in an Associated Press article last week on the looming discussion of teams wearing corporate logos on their jersey: “If you jump in now, and I’m going to get a little bit [of money] because of the jersey patches. I would really like to see if there’s an opportunity for our conference to put all those jersey patch rights together and, all of a sudden, they’re worth a whole lot more to the institutions when 18 are playing instead of just one.”
The potentially groundbreaking plan, which has been presented across the 18-member conference over the past few months, calls for immediate cash payments to each school, the amount based on a formula that factors in numerous variables including current budgets.
The amount of those payments is still being discussed, but the basic format, sources told ESPN, is believed to be tiered. All schools in the league are expected to receive at least a nine-figure amount up front.
The final financial details are still being discussed as universities with bigger brands are expected to receive more money.
“Our membership has clearly expressed the need to modernize the operations and structure of our conference to ensure that the Big Ten remains best positioned to offer the highest level of athletic and academic excellence in a rapidly evolving landscape,” a Big Ten spokesperson told ESPN in a statement when asked about the private capital.
“Over a year ago, we initiated a comprehensive evaluation of our practices to identify partnerships that could secure the financial stability of our member institutions and allow us to not only protect, but expand, opportunities for our student-athletes. This is an ongoing process, and we remain committed to finding a path that strengthens the conference for the future.”
WASHINGTON — The Trump administration has identified a host of athletic competitions it classifies as “major sporting events” — aside from soccer’s 2026 World Cup and the 2028 Olympic Games — that athletes and coaches will be allowed to travel to the U.S. to take part in despite a broad visa ban on nearly 40 countries.
In a cable sent to all U.S. embassies and consulates Wednesday, the State Department said athletes, coaches and support staff for the World Cup, the Olympics and events endorsed or run by a long list of collegiate and professional sporting leagues and associations would not be subject to the full and partial travel bans that apply to citizens of 39 countries and the Palestinian Authority.
However, the cable made clear that foreign spectators, media and corporate sponsors planning to attend the same events would still be banned unless they qualify for another exemption.
“Only a small subset of travelers for the World Cup, Olympics and Paralympics, and other major sporting events will qualify for the exception,” it said.
President Donald Trump’s administration has issued a series of immigration and travel bans as well as other visa restrictions as part of ongoing efforts to tighten U.S. entry standards for foreigners. At the same time, the administration has been looking to ensure that athletes, coaches and fans are able to attend major sporting events in the U.S.
Trump’s Dec. 16 proclamation banning the issuance of visas to the 39 countries and the Palestinian Authority had carved out an exception for athletes and staff competing in the World Cup, the Olympics and other major sporting events. It delegated a decision on which other sporting events would be covered to Secretary of State Marco Rubio.
Wednesday’s cable lists the events that are covered, including “all competitions and qualifying events” for the Olympic Games, Paralympic Games, Pan-American Games, and Para Pan-American Games; events hosted, sanctioned or recognized by a U.S. National Governing Body; all competitions and qualifying events for the Special Olympics; and official events and competitions hosted or endorsed by FIFA, soccer’s governing body, or its confederations.
The exemption also will cover official events and competitions hosted by the International Military Sports Council, the International University Sports Federation and the National Collegiate Athletic Association as well as those hosted or endorsed by U.S. professional sports leagues such as the National Football League, the National Basketball Association and Women’s National Basketball Association, Major League Baseball and Little League, National Hockey League, Professional Women’s Hockey League, NASCAR, Formula 1, the Professional Golf Association, Ladies Professional Golf Association, LIV Golf, Major League Rugby, Major League Soccer, World Wrestling Entertainment, Ultimate Fighting Championship and All Elite Wrestling.
The cable said other events and leagues could be added to the list.
Of the 39 countries, a full travel ban applies to Afghanistan, Burkina Faso, Chad, the Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Laos, Libya, Mali, Myanmar, Niger, Sierra Leone, Somalia, Sudan, South Sudan, Syria, Yemen, and people with Palestinian Authority-issued passports.
A partial ban is in place for citizens of Angola, Antigua and Barbuda, Benin, Burundi, Cuba, Dominica, Gabon, Gambia, Ivory Coast, Malawi, Mauritania, Senegal, Tanzania, Tonga, Togo, Venezuela, Zambia and Zimbabwe.
In the latest gambling scandal to rock sports, a federal indictment accuses bettors and athletes of “point-shaving” in NCAA and Chinese Basketball Association games.
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NCAA president responds to integrity concerns after alleged point-shaving scheme leads to dozens of arrests
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The NCAA said that protecting the “integrity” of its athletics is “of the utmost importance” for the organization after at least 26 people were charged Thursday in connection with fixed college basketball games, and urged states to “ban risky bets.”
Prosecutors said the alleged participants bribed Chinese Basketball Association players in 2022 “to underperform and help ensure their team failed to cover the spread in certain games and then, through various sports books, arranged for large wagers to be placed on those games against that team.”
The following year, the participants allegedly expanded their scheme to the NCAA, recruiting players and paying bribes between $10,000 and $30,000 per game.
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NCAA President Charlie Baker and Massachusetts Attorney General Andrea Campbell announce a gambling prevention program aimed at kids during a press conference at TD Garden. The program includes a school curriculum on the risks of gambling that will be rolled out to schools statewide, as well as new money towards research to understand the scope of the problem. (Matthew J. Lee/The Boston Globe via Getty Images)
According to the indictment, more than 39 players on 17 different teams attempted to fix more than 29 NCAA Division I men’s basketball games, including conference tournament contests. The organizers of the alleged scheme placed wagers totaling millions of dollars.
“Protecting competition integrity is of the utmost importance for the NCAA. We are thankful for law enforcement agencies working to detect and combat integrity issues and match manipulation in college sports,” NCAA President Charlie Baker said in a statement.
Baker said the indictments were “not entirely new information to the NCAA,” as it had conducted “integrity investigations into approximately 40 student-athletes from 20 schools over the past year.”
The NCAA logo on entrance sign outside of the NCAA Headquarters on Feb. 28, 2023 in Indianapolis, Indiana. (Mitchell Layton/Getty Images)
The NCAA added that 11 athletes from seven schools were “recently found to have bet on their own performances, shared information with known bettors, and/or engaged in game manipulation to collect on bets they — or others — placed” and have since been permanently banned.
“Additionally, 13 student-athletes from eight schools (including some of those identified above) were found to have failed to cooperate in the sports betting integrity investigation by providing false or misleading information, failing to provide relevant documentation and/or refusing to be interviewed by the enforcement staff. None of them are competing today,” Baker added.
Baker also called on states to crack down on “threats to integrity,” specifically prop bets, “to better protect athletes and leagues from integrity risks and predatory bettors. We also will continue to cooperate fully with law enforcement. We urge all student-athletes to make well-informed choices to avoid jeopardizing the game and their eligibility.”
The chargers on Thursday included bribery in sporting contests, conspiracy to commit wire fraud, and wire fraud.
“[Defendants] aided and abetted the carrying into effect, the attempt to carry into effect, and the conspiracy to carry into effect, a scheme in commerce to influence by bribery sporting contests, that is, Chinese Basketball Association (“CBA”) men’s basketball games and National Collegiate Athletic Association (“NCAA”) men’s basketball games, with the defendants engaging in different aspects of this scheme, with knowledge that the purpose of this scheme was to influence in some way those contests by bribery,” the indictment said.
General view of the SEC Men’s Basketball Tournament Championship game between the University of Kentucky Wildcats and the University of Florida Gators at the Georgia Dome on March 14, 2004, in Atlanta, Georgia. (Doug Pensinger/Getty Images)
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The announcement follows the federal government’s crackdown on illicit sports gambling and point-shaving schemes that involved the NBA in October.
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