The University of Utah just threw a Hail Mary into uncharted territory, and the crowd’s already calling for a flag. While Kyle Whittingham’s future as head coach hangs in limbo after 21 seasons, his program is making headlines for a different reason.
The school is pushing forward with a groundbreaking financial strategy that has college football fans questioning whether Utah is innovating or selling its soul.
Utah announced plans Tuesday for a private equity deal with New York-based Otro Capital that would pump at least $500 million into its athletic department, according to Ross Dellenger. The school’s board of trustees unanimously approved negotiations to create Utah Brands & Entertainment, a for-profit company in which the university foundation would hold a majority ownership stake and Otro Capital would hold a minority stake. This marks the first-ever partnership between a university and a private equity firm in college sports.
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