• Loading stock data...
Tuesday, October 7, 2025

New Bill Aims to Prohibit Athletic Department, Conference Private Equity Deals

The legislation was introduced just days after reports came out that the Big Ten was considering a $2 billion private capital deal.

Oct 4, 2025; Tucson, Arizona, USA; Oklahoma State Cowboys outside linebacker Poasa Ute (35) and Wendell Gregory (4) celebrate during the third quarter of the game against the Arizona Wildcats at Arizona Stadium.
Aryanna Frank-Imagn Images

On Monday, Rep. Michael Baumgartner (R., Wash.) introduced a bill aimed at blocking private equity deals with athletic departments or conferences, according to a draft of the bill obtained by Front Office Sports. It also attempts to block deals with hedge funds or foreign sovereign funds.

The seven-page “Protect College Sports from Private Equity and Foreign Influence Act” (the PROTECT Act), would amend the Higher Education Act of 1965 to say that no school or conference could sell an ownership stake or transfer “profit, net-revenue, or gross revenue” to a sovereign wealth fund, private equity fund, or hedge fund. (That includes outside entities created to spin off assets like media rights or real estate.) 

It also prohibits any type of deal that “grants such firm or fund control rights over athletics decisions, institutional branding, scheduling, personnel, or student participation.”

Other financial agreements, like donor gifts, bank loans, public bonds, or vendor contracts would still be allowed, however.

“Agreements that convey ownership, revenue-sharing, control rights, or security interests in intercollegiate athletics to private equity, hedge funds, or similar vehicles are inherently conflicted, create pressure to maximize short-term cash flows at the expense of educational and Title IX obligations, and risk extracting wealth from publicly supported institutions and their students—undermining transparency, accountability, and the public purposes for which those institutions exist,” the bill reads.

The legislation was introduced just days after ESPN reported—and FOS confirmed—that the Big Ten was considering a $2 billion private capital deal. The deal would not offer a stake in the conference directly, but would offer a stake in an entity spun off from the conference that would include media rights and other valuable assets. The 18 colleges and the conference itself would each also get a stake. 

The Big Ten’s private equity deal would theoretically be illegal under this bill, however, as would other models introduced over the past several months. 

Elevate, a sports business consultancy firm, signed deals with two schools, and Boise State is currently working on a private capital deal, FOS reported this summer. Then, private-equity firm Sequence Equity pitched breaking away the FCS football postseason to be run by FCS conferences and the firm. The Big 12 considered a deal with RedBird Capital this past summer, FOS confirmed, but ultimately opted against it. 

This isn’t Baumgartner’s first foray into the world of college sports legislation. He has loudly opposed the NCAA- and power-conference-backed SCORE Act, which would give the NCAA antitrust exemptions to enforce restrictions on things like transfers and compensation; deem athletes amateurs and not employees; and create a national NIL standard. The bill was stalled in Congress even before the current government shutdown.

“It’s absurd and outrageous that the same Big Ten Commissioner who wants the SCORE Act passed by Congress is the same guy trying to bank a pay day from selling PUBLIC UNIVERSITY sports to private equity groups,” Baumgartner said in a post on X last week, referring to Tony Petitti. “College sports needs to be RESTORED to a sustainable STUDENT-ATHLETE first model.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Oct 4, 2025; Fort Worth, Texas, USA; TCU Horned Frogs head coach Sonny Dykes and Colorado Buffaloes head coach Deion Sanders hug following a game at Amon G. Carter Stadium.

More Health Problems for Deion Sanders As Colorado Slides

Sanders indicated his blood clots have returned.

CFB’s New Parity Era: Penn State, Texas Top-25 Exits Signal Shift

Penn State and Texas fall entirely out of the top-25 rankings.
Cody Campbell

Fox, ABC Reject Ad Accusing Power Conference Commissioners of Greed

Cody Campbell said the ads were pulled after he paid for them.
Florida State defensive back Renardo Green (8) tackles Miami running back Mark Fletcher Jr. (22) during a college football game Saturday, Nov. 11, 2023, at Doak Campbell Stadium in Tallahassee, Florida.

Miami–Florida State Rivalry Heats Up With Priciest Ticket in CFB

The get-in price for Saturday’s matchup in Tallahassee is more than $300.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.

Trump Visit Adds Political Theater to Ryder Cup’s Opening Day

President Donald Trump attended the Ryder Cup on Friday afternoon.
Elizabeth Warren
exclusive
September 24, 2025

Sens. Warren, Sanders Press ESPN, NFL, MLB Over Media Deal Concerns

Four prominent members of Congress are worried about ESPN’s deepening ties to leagues.
Signs promoting the FIFA World Cup Final coming to MetLife Stadium in East Rutherford, NJ on Wednesday Feb. 7, 2024. The World Cup is held every four years and the 2026 World Cup Final match will be played at MetLife Stadium.
September 26, 2025

Trump Says He’ll Move World Cup If He Deems Host Cities Unsafe

The president has vowed to lower crime in cities.
Sponsored

How Soccer Star Jozy Altidore Became a Buffalo Bills Owner

Jozy Altidore discusses building a business legacy off the field.
July 18, 2024; Milwaukee, WI, USA; Mike Pompeo, former Secretary of State, speaks during the final day of the Republican National Convention at the Fiserv Forum. The final day of the RNC featured a keynote address by Republican presidential nominee Donald Trump.
September 19, 2025

At U.K. Sports Conference, Mike Pompeo Speaks Mostly About Trump

The former Trump official says he used to be a “mediocre power forward.”
Donald Trump
exclusive
September 17, 2025

Trump’s Unprecedented Super Bowl Visit Cost Secret Service More Than $120K

Trump was the first president to attend the Super Bowl.
September 15, 2025

Trump Push to End Quarterly Earnings Has Major Sports Ramifications

U.S. President Trump proposes moving to semi-annual reporting for public companies.
September 12, 2025

NFL, Yankees, Cubs Hold Moments of Silence for Charlie Kirk

The Green Bay moment was an NFL decision, a spokesperson told FOS.