Jim Phillips: ACC Cautious With Sports Betting Deals, Not Sold on PE

CHARLOTTE — As the business of college sports continues to evolve, the ACC continues to cautiously explore two potential revenue streams that not that long ago would have been taboo: sports betting and private equity.

Tuesday’s announcement that the ACC will require teams to publish public availability reports for players’ game status is an “important one from a financial standpoint,” commissioner Jim Phillips told Front Office Sports. “The gambling and sports wagering landscape has blown up in a way where you see it everywhere now, and it’s really expected.”

Phillips said that development could eventually lead to the ACC bringing on a sports betting partner. “We’ve looked at it from a little bit of a distance,” he said. “But I think we have to be really serious, and we have to be diligent and thoughtful in any process there. But yeah, it’s like any category: You look at where you may be able to monetize your operation.”

Earlier this year, the NCAA expanded its deal with Genius Sports to start providing sportsbooks with official data from its championship events. But that type of deal has yet to come on a Power 4 conference level.

Waiting on Private Equity

When it comes to private equity, the ACC—like most other conferences—has yet to be sold on a proposal to inject new capital into the league.

“Our group is very educated about it, and there just hasn’t been anything that really has made sense for the ACC, similar to others,” Phillips said. “It’s good for us to continue to think broadly and openly and progressively in all of that, including private equity and revenue. If you ever got to a place where it made sense, I’m sure somebody would do that.”

That falls in line with how the SEC and the Big 12 have been approaching the PE space lately, too.

Phillips said he still gets pitched by PE groups, although not as often as he once did. “Occasionally, yes,” he said. “Maybe not with the same frequency that we had a couple of years ago. But I think those conversations just end up being like anything else—they end up being a conversation, and they continue.”