The University of Utah is launching a first-of-its-kind partnership with private equity firm Otro Capital to expand the revenue streams for its athletic department, according to a report by the Associated Press.
The school will form Utah Brands & Entertainment LLC, owned by the university foundation, to manage revenue-generating operations including corporate sponsorships, ticketing, event-related income, and licensing of campus-wide trademarks.
The initiative could generate up to $500m in capital, with Otro Capital, known for sports and entertainment investments, joining prominent university supporters in backing the venture. University officials emphasised that operational control of athletics remains fully with the department, while the foundation appoints the majority of the new entity’s board.
