Big Ten Reportedly Discussing $2B Private Capital Deal, Nothing ‘Imminent’

College sports are in a constant state of change with name, image and likeness deals, conference realignment, looming revenue sharing, and much-discussed media-rights deals, and the Big Ten is reportedly exploring a way to infuse at least $2 billion into its league and schools operating within that system.

ESPN’s Pete Thamel and Dan Wetzel reported Wednesday that the conference is discussing a private capital deal that would also include a 10-year extension of its grant of rights until 2046.

Thamel and Wetzel noted “nothing is considered imminent or certain” even though such a deal has been discussed for months and in various forms. They called the potential extension of the Big Ten’s grant of rights “a distinct blow to the outside entities attempting to form super leagues around college sports.”

While the Big Ten and SEC have separated themselves as the two premier conferences in the country when it comes to generating money and competing for championships on the football field, the idea of the nation’s elite programs eventually breaking off and forming such a super conference is not a new one.

Given that reality, it is notable that Thamel and Wetzel reported Ohio State and Michigan are among the Big Ten’s “biggest brands” that are still discussing the idea despite widespread support from much of the conference.

Any super conference down the line would surely look to include the Buckeyes and Wolverines, so those two programs are likely making sure they are going to get their fair share in a potential private capital situation.

Thamel and Wetzel reported the exact format is still being discussed but is “believed to be tiered” with the biggest brands in the conference “expected to receive more money” even though all schools will likely receive at least a nine-figure amount up front.

The ESPN report explained the deal would “essentially” create a “new commercial entity within the Big Ten that would house all revenue generation such as media rights, sponsorships and league revenue streams” titled Big Ten Enterprises.

With such a setup, the Big Ten would feature 20 equity shares comprised of the 18 schools, the league itself and the investor.

“Think of it this way—the conference is not selling a piece of the conference,” a league source said. “Traditional conference functions would remain 100% 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.”

There are still details to be ironed out, but this could be a new way for the Big Ten to put itself in even better financial position to compete in the modern era of college sports.

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