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.
NEWYou can now listen to Fox News articles!
It is the end of an era in NASCAR.
The Athletic reported Friday that Jim France is stepping down as NASCAR’s CEO, and his replacement will be the first non-France family member to run the ship.
The outlet noted that France, who will remain NASCAR’s chairman, will be replaced by NASCAR president Steve O’Donnell.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM
President Donald Trump is greeted by NASCAR Chairman and CEO Jim France and Sen. Rick Scott before the NASCAR Cup Series Daytona 500 at Daytona International Speedway in Daytona Beach, Florida, on Feb. 16, 2025. (Chris Graythen/AFP)
France’s father founded NASCAR in 1948, and it has grown into the most popular motorsport in the United States.
Ben Kennedy, France’s great-nephew, will also be promoted from executive vice president and chief venue and racing innovations officer to NASCAR’s chief operating officer.
All the changes are expected to be announced on Saturday at Talladega Superspeedway, where the Jack Link’s 500 will be run on Sunday.
Jim France, chairman and CEO of NASCAR, and team owner Rick Hendrick celebrate as the No. 24 NASCAR Next Gen Chevrolet ZL1 finishes the 100th anniversary of the 24 Hours of Le Mans at the Circuit de la Sarthe in Le Mans, France, on June 10, 2023. (Chris Graythen/Getty Images)
LONGTIME NASCAR CREW CHIEF TELLS WILD STORY ABOUT ONE OF THE SPORT’S BIGGEST CHARACTERS
France took on both roles in August 2018, shortly after his nephew, Brian, stepped down.
France’s 54% ownership stake of NASCAR will remain unchanged — Kennedy’s mother owns the other 46%.
This is hardly the first seismic change for NASCAR this year — Steve Phelps announced in January he was stepping down as commissioner in the wake of two racing teams, including one owned by Michael Jordan, filing an antitrust lawsuit against the company.
The suit unearthed inflammatory text messages Phelps sent during contentious revenue-sharing negotiations. Jordan’s 23XI Racing and NASCAR settled their suit in December.
He was named NASCAR’s first commissioner last season after a courting process for the same role by the PGA Tour. The opportunity with the PGA was revealed during December testimony in the trial.
NASCAR Chairman and CEO Jim France congratulates NBA Hall of Famer and 23XI Racing co-owner Michael Jordan in victory lane after Tyler Reddick won the NASCAR Cup Series Daytona 500 at Daytona International Speedway in Daytona Beach, Florida, on Feb. 15, 2026. (Chris Graythen/Getty Images)
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
France, however, is reportedly insistent that the lawsuits had nothing to do with his decision to step down, and it has been a thought for a long while.
Fox News’ Jackson Thompson and The Associated Press contributed to this report.
Follow Fox News Digital’s sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
NEWYou can now listen to Fox News articles!
Pro Football Hall of Famer Lawrence Taylor was hospitalized on Friday, TMZ reported.
The New York Giants legend suffered a medical emergency in New Jersey, warranting the visit, the outlet said.
Taylor’s status is unclear at this time, but TMZ said that it does not appear to be serious, citing “those close to” him.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM
Former New York Giant Lawrence Taylor attends a game between the Giants and the Indianapolis Colts at MetLife Stadium in East Rutherford, New Jersey, on Jan. 1, 2023. (Jim McIsaac/Getty Images)
Taylor’s former Giants did not immediately respond to an email.
L.T. is widely regarded as the greatest linebacker to ever play. He was a three-time NFL Defensive Player of the Year, including in his rookie season.
He won two Super Bowls, made 10 straight Pro Bowls and was named the MVP of the 1986 season. He also remains the franchise’s all-time sacks leader, which includes his 9½ sacks from his rookie season, before sacks became a stat.
New York Giants legend Lawrence Taylor enters the field before a game against the Minnesota Vikings at MetLife Stadium in East Rutherford, New Jersey, on Sept. 8, 2024. (John Jones/Imagn Images)
This came despite a lavish lifestyle off the field, which resulted in legal troubles after his playing days. Drug problems have also resulted in health problems later in life.
Taylor showed his support for President Donald Trump in 2024, appearing at a rally in Wildwood, New Jersey.
“I grew up a Democrat, and I’ve always been a Democrat, until I met this man right here,” Taylor said to cheers. “Nobody in my family ever will vote for a Democrat again.”
President Donald Trump and former New York Giants linebacker Lawrence Taylor attend an executive order signing ceremony in the Roosevelt Room of the White House in Washington, D.C., on July 31, 2025. The order formally reestablishes the Presidential Fitness Test, creating school-based programs that reward excellence in physical education. (Eric Lee/Bloomberg)
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Taylor made Giants headlines last year when he quickly turned down Abdul Carter’s request to wear his No. 56 that has been retired by the organization since 1994, just one season after he retired.
Follow Fox News Digital’s sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
KARACHI: Islamabad United on Friday handed Hyderabad Kingsmen a humiliating eight-wicket defeat in the 36th match of the ongoing Pakistan Super League (PSL) 11 at the National Bank Stadium.
The victory, which marked United’s fifth in the ongoing eight-team tournament, propelled the three-time champions into the playoffs, joining leaders Peshawar Zalmi and 2021 champions Multan Sultans.
Set to chase a modest 81-run target, the United comfortably knocked the winning runs for the loss of just two wickets and 80 balls to spare.
The 2024 champions, however, had a contrasting start to the pursuit as they lost left-handed opener Devon Conway (zero) on the second delivery of the innings.
But Sameer Minhas and Mohsin Riaz batted sensibly to put United within touching distance as they put together 79 runs for the second wicket until Ali struck again, dismissing Riaz, who top-scored with 42 off just 18 deliveries, studded with six fours and two sixes.
Minhas, on the other hand, remained unbeaten with 27 off 20 deliveries, featuring three fours and a six, while skipper Shadab hit the winning runs in the same over with a boundary on the first delivery he faced.
For the Kingsmen, Mohammad Ali remained the solitary wicket-taker in the gruelling defeat with two scalps.
United captain Shadab Khan’s decision to field first paid dividends as his team’s bowling unit booked the new entrants for 80 in 15.5 overs.
Kingsmen got off to the worst possible start to their innings as Gleeson dismissed Maaz Sadaqat (zero) on the first delivery of the innings.
The right-arm pacer swept through their top order by getting rid of Marnus Labuschagne (five) and Saim Ayub (12) in his next two overs and brought the total down to 24/3.
Following Gleeson’s early blitz was backed by the experienced spin duo of captain Shadab and Imad Wasim as they dismantled Kingsmen’s middle and lower orders by taking three wickets each despite last match centurion Usman Khan’s grit.
The wicketkeeper batter waged a lone battle for the Kingsmen with an unbeaten 25 off 35 deliveries, during which he struck only one boundary.
Besides Usman and Saim, only Kusal Perera and Asif Mehmood, 12 each, could amass double figures against a ruthless United bowling attack.
For United, Gleeson, Imad and Shadab bagged three wickets each, while left-arm pacer Salman Mirza chipped in with one scalp.
Playing XIs
Hyderabad Kingsmen: Maaz Sadaqat, Marnus Labuschagne (c), Saim Ayub, Kusal Perera, Usman Khan (wk), Glenn Maxwell, Muhammad Irfan Khan, Hassan Khan, Hunain Shah, Mohammad Ali and Asif Mehmood.
Islamabad United: Devon Conway (wk), Sameer Minhas, Mark Chapman, Mohsin Riaz, Shadab Khan (c), Haider Ali, Faheem Ashraf, Chris Green, Imad Wasim, Richard Gleeson and Salman Mirza.
NASCAR makes major change in front office, including new CEO in unprecedented move: report
Extended interview: Don Cheadle – CBS News
Charlie Sheen updates on relationship with old pal Jon Cryer
-
Fashion1 week agoFrance’s LVMH Q1 revenue falls 6%, shows resilience amid Iran war
-
Tech1 week agoCYBERUK ’26: UK lagging on legal protections for cyber pros | Computer Weekly
-
Sports5 days agoWWE WrestleMania 42 Night 2: Live match results and analysis
-
Sports1 week agoFaheem Ashraf backs Islamabad United’s push, calls league a ‘career-changing platform’
-
Sports5 days agoNCAA men’s gymnastics championship: All-time winners list
-
Business1 week agoPepsiCo earnings beat estimates as North American food business improves
-
Tech1 week agoAnthropic Plots Major London Expansion
-
Entertainment4 days agoLee Anderson, Zarah Sultana kicked out of UK Parliament for calling PM ‘liar’