"The framework calls for the formation of a new entity, Big Ten Enterprises, which would hold all league-wide media rights and sponsorship contracts. Shares of ownership in Big Ten Enterprises would fall to the league's 18 schools, the conference office and the capital group - an investment fund that's tied to the University of California pension system. Yahoo Sports first reported the involvement of the UC investment fund."
"ESPN reported last week that a tiered structure is expected in the initial allocation of the $2 billion-plus in capital, with larger brands receiving more money. Each school, however, would receive a payout in at least the nine-figure range, sources said. The deal would call for an extension of the league's Grant of Rights through 2046, providing both long term stability and making both further expansion and any chance league schools leave for the formation of a so-called "Super Lea"
The Big Ten is nearing a vote on a private capital agreement that would create Big Ten Enterprises to hold league-wide media rights and sponsorship contracts. Ownership shares in Big Ten Enterprises would be allocated to the 18 member schools, the conference office, and a capital group tied to the University of California pension system. The UC-linked fund is not private equity and had a higher valuation than other bids. The structure likely includes a tiered initial allocation, larger brands receiving more, and each school expected to receive at least a nine-figure payout. The deal would extend the Grant of Rights through 2046.
Read at ESPN.com
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