SayUWantAreVOLution
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I was educated in this thread that the B1G has created an LLC to contain the conference media rights and that's what PE bought into.Even worse -- they will split off the football team into an LLC, which will isolate it from any sort of reporting or oversight. (Not that there’s a lot now.) They’ll charge the university a fee to run the program, but there will be no way for anyone -- not you, not reporters, not even the administration -- to know where that money is going or how it’s being used.
Or, they will leverage the value of the football team to take out large loans (through the LLC), then take their $$$ and give the football program back to the university with a ___-load of debt.
Surely anyone with (a) a love of college football and (b) a brain can see what a bad idea this is.
That makes sense because that's an asset that will appreciate without really giving PE a piece of the schools. PE is just betting the 10% of the media rights they paid for will appreciate.
While ugly, that's a decent financial instrument for the B1G to leverage.
