Big Ten’s $2B Private-Equity Deal Talks Face Michigan Resistance 

A groundbreaking move that would bring institutional money into a Power 4 conference will have plenty of challenges before seeing the light of day.

The Big Ten is in discussions for a private-capital deal around $2 billion, sources confirmed to Front Office Sports reporter Amanda Christovich. ESPN first reported the news. 

“Our membership has clearly expressed the need to modernize the operations and structure of our conference to ensure that the Big Ten remains best positioned to offer the highest level of athletic and academic excellence in a rapidly evolving landscape,” the conference told Christovich and FOS in a statement. “Over a year ago, we initiated a comprehensive evaluation of our practices to identify partnerships that could secure the financial stability of our member institutions and allow us to not only protect, but expand, opportunities for our student-athletes. This is an ongoing process, and we remain committed to finding a path that strengthens the conference for the future.”

One prominent leader has already come out against the potential pact. Michigan regent Jordan Acker, who has served on the university’s board since 2019, posted on X, “I believe selling off Michigan’s precious public university assets would betray our responsibility to students and taxpayers. I will firmly oppose any such effort.” Acker added that he hopes his colleagues at Ohio State and Michigan State “will stand with me as well.”

Michigan and Ohio State are among the Big Ten’s top programs that are still in discussions with the conference about the deal, per ESPN.

Former Minnesota regent Michael D. H. Hsu told FOS he’s skeptical the deal will get done because “Michigan and Ohio State would need to lead this … but they don’t need the money.” Hsu also noted that $2 billion split equally among the Big Ten’s 18 schools, just more than $111 million each, is “not a significant amount of money per school, but it could lead to more deals as others follow suit.”

Breaking From the Pack

In July, Big Ten commissioner Tony Petitti told FOS the conference was “still thinking” about private-equity bids, although he characterized it as being “a long way from crystallizing.”

Those comments came as the commissioners of the other Power 4 leagues all pushed back against the idea of bringing PE money into their conference. “We’ve not seen the concept that works,” SEC commissioner Greg Sankey said.