Reply to thread

Message: [QUOTE="huskymedic, post: 5053677, member: 549"] [MEDIA=twitter]1819441517536178435[/MEDIA] [URL='https://www.washingtonpost.com/sports/2024/08/02/howard-basketball-private-equity/'][B]Washington Post version: This basketball coach wants to sell his program for $100 million. Seriously.[/B][/URL] [URL='https://archive.ph/RcoAo'][B]Assisted access <<[/B][/URL] -> Or at least Kenny Blakeney, the Bison’s head coach, is saying as much to potential investors. As part of a wide-ranging proposal that has not been previously reported, he is seeking $100 million for a 33 percent stake in his program. In an era of change, in an effort to be on the right side of extreme stratification, he’s going for it.  “College athletics is full-fledged business now,” Blakeney said in a July interview. “The whole idea is to not get left behind. It’s, ‘How do we include ourselves in this?’ <- ->He met with a private equity firm in June. In mid-July, he flew to Las Vegas for a charity golf outing and talked with private equity investors — plus some other rich folks — on the course. His business plan is long and layered. The main thrust, though, is that Blakeney needs that initial $100 million to upgrade Howard’s arena and roster. From there, he would want Howard to go independent, allowing it to find its own television deal (think Notre Dame) or join a bigger conference as an affiliate school (think the Big East, which Blakeney mentions throughout his written proposal).  Should the idea progress, the 52-year-old coach would pitch a three-way revenue split: a third to the owner(s), a third to Howard and a third to his program, which he says he believes could then use the interest to cover annual operating costs and no longer take money from the school. <- -> When he projects future revenue to investors, Blakeney hammers the untapped revenue streams at Howard. The school has not sold naming rights for its arena or practice facility. If it did, a company could have massive signs facing busy Georgia Avenue in Washington. The school does not lease out the arena for concerts or other community events. The team doesn’t have sponsorship patches on its jerseys. Its locker room is not endowed. Blakeney’s position is not endowed.<- [/QUOTE]

Verification: First name of men's bb coach

Forum statistics

Threads: 164,486

Messages: 4,398,184

Members: 10,212

Latest member: MurrDog