Private investment firms partner to potentially cash in following sweeping changes in college sports

FILE - Wisconsin’s Traevon Jackson dribbles past the NCAA logo during practice at the NCAA men’s college basketball tournament March 26, 2014, in Anaheim, Calif. University presidents around the country are scheduled to meet this week in May 2024, to vote on whether to accept a proposed settlement of an antitrust lawsuit that would cost the NCAA nearly $3 billion in damages. FILE - In this April 25, 2018, file photo, the NCAA headquarters is shown in Indianapolis.

The NCAA and its member schools are expected to vote on a proposed $2.77 billion settlement of an antitrust lawsuit this week, one that could leave schools with tighter budgets, or in some cases financial hardships, in the coming years. “The paradigm shift we are seeing in the collegiate athletics ecosystem is similar to the ones we’ve seen with media distribution models, collective bargaining rights and premium hospitality,” said Gerry Cardinale, founder and managing partner of RedBird Capital in New York. “They’re all centered around the need to create long-term growth by bridging the gap between premium and optimizing revenue streams.

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