The University of Utah and the University of Las Vegas (UNLV) have each announced landmark deals in college sports, bringing in private equity investment and a jersey patch sponsor, respectively.
Utah is finalizing a private equity partnership that would be the first of its kind in college athletics. The school is set to enter an agreement with New York-based firm Otro Capital that will help generate an estimated $500 million, it announced on Tuesday.
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The deal is expected to be finalized in early 2026. Utah is understood to have received clearance from the NCAA to enter the partnership, but must abide by certain stipulations to remain an NCAA member.
In addition to the deal, the school has created a for-profit entity, Utah Brands & Entertainment LLC, which will exist as an independent offshoot of the athletic department co-owned by the university and Otro Capital.
The school will be the majority owner and possess decision-making authority while Otro Capital earns a percentage of the company's annual revenue.
The agreement includes an exit strategy that is expected to take place after five to seven years, and the university reserves the right to purchase Otro Capital's ownership stake.
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By GlobalDataUtah Brands & Entertainment will oversee the revenue-sharing efforts with Utes athletes.
Donors will also be able to purchase stakes in Utah Brands & Entertainment. Between the investments from donors and a nine-figure deal with Otro Capital, Utah could raise more than $500 million, setting itself up for sustained success in the revenue-sharing era of college athletics.
The university stated: “This new business also gives us the opportunity to bring on experienced partners who can help us strengthen the business operations of athletics, enhance the fan experience, and grow revenues.
“To that end, we intend to partner with certain prominent university supporters as well as Otro Capital, a firm with deep operational experience in sports, entertainment, and media, to help support and strengthen this new venture and its long-term growth potential.”
The House v. NCAA settlement paved the way for private equity to enter college athletics, with schools and conferences exploring opportunities. Utah is the first to ink a partnership with an investment firm.
Meanwhile, in another first, UNLV has announced a five-season deal with Acesso Biologics, the Las Vegas-based medicine company, to become the official jersey patch partner for its football, men's and women's basketball, and baseball teams.
The move comes ahead of the anticipated NCAA approval of corporate jersey patches and was brokered by college sports-focused media rights company Learfield, the exclusive multimedia rights-holder for UNLV Athletics.
The corporate jersey patch rule proposal is expected to be voted on by the NCAA membership in January 2026, and if passed, would take effect on August 1, 2026.
With this new agreement, Acesso Biologics becomes the first official multi-sport corporate jersey patch and on-field logo partner in NCAA athletics.
Jersey patch sponsorships are already prominent across the major US sports leagues (NFL, NBA, MLB, and NHL).
Acesso Biologics served as the on-field logo partner for UNLV Football this season, paving the way for an expanded relationship. The company’s logo will appear on the uniforms of all four UNLV programs for both home and away competitions.
Additionally, the firm will sponsor the south field goal net at Allegiant Stadium — a prominent in-game feature.
Kim Damron, president of Learfield sports properties, said: “By prominently incorporating Acesso's logo on the jerseys of UNLV's football, men's and women's basketball and baseball teams, along with an on-field logo at Allegiant Stadium and other key assets, this cutting-edge partnership is the first of its kind to usher in the new era of jersey patch sponsorships in college sports.”
Elsewhere in college sports, Kansas Athletics and premium experiences company Legends Global have agreed a multi-year partnership extension.
As part of the renewed and expanded tie-up, Legends Global will manage all ticketing, premium seating, and annual fundraising efforts connected to seating products for Kansas Athletics.
Additionally, the Legends Global owner’s representation division will oversee budgeting, scheduling, design review, and construction supervision for Kansas on phase two of the David Booth Kansas Memorial Stadium’s east side remodel and related development.
Legends Global partnered with Kansas on phase one of the project, serving as the owner’s representation and managing premium ticket sales strategy and execution.
In August, Kansas and Legends Global announced that $187 million of capital commitments were generated from premium seating sales in the newly renovated stadium ahead of the 2025 football season, exceeding initial revenue projections by an estimated $60 million.
The 104-year-old stadium underwent a $450 million transformation.
Legends Global advises several university athletic departments on renovation and new facility projects, including Northwestern, Maryland, Notre Dame, Oklahoma, Southern California, Wisconsin-Madison, Utah, Villanova, and San Diego State.
