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Elevate launching PE-backed college initiative
Posted on 6/9/25 at 8:37 am
Posted on 6/9/25 at 8:37 am
quote:
Private equity has finally come to college sports.
Elevate is set to announce the creation of the Collegiate Investment Initiative, a $500M initiative backed by PE firm Velocity Capital Management and the Texas Permanent School Fund, Sports Business Journal has learned.
The investment vehicle will provide a new funding source for collegiate athletics programs pursuing capital-intensive projects like facility upgrades and renovations.
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Posted on 6/9/25 at 8:52 am to AHM21
quote:
The investment vehicle will provide a new funding source for collegiate athletics programs pursuing capital-intensive projects like facility upgrades and renovations.
I actually think this is a cool thing. It’s PE funding whole departments, NIL efforts etc. that worries folks.
Posted on 6/9/25 at 10:34 am to LSUminati
What do they get in exchange? PE doesn't just give money away. Typically they sell companies for parts.
PE works for PE and their investors, almost exclusively at the expense of things they "invest" in.
PE works for PE and their investors, almost exclusively at the expense of things they "invest" in.
Posted on 6/9/25 at 11:15 am to jonnyanony
If it's just a fund similar to an infrastructure fund, they could fund capital projects like stadiums and the economics could just be sharing in the income generated by the stadium. They could also charge a fee for managing the operations, which fans are always bitching and moaning about, for example, concessions etc.
Posted on 6/9/25 at 11:26 am to LSUminati
I wonder what the collateral will be???
Will Jordan Hare Stadium be renamed Bank of America Stadium if they don’t pay their bill.
Will Jordan Hare Stadium be renamed Bank of America Stadium if they don’t pay their bill.
Posted on 6/9/25 at 2:28 pm to AHM21
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