Utah Utes Partner With Private Equity In Landmark Deal

(Salt Lake City, UT) — The University of Utah is becoming the first university to partner with a private equity firm that will help run a for-profit offshoot of the athletic department. Yahoo Sports says the landmark deal with Otro Capital could generate 500-million dollars in capital. If approved by the University of Utah Board of Trustees, the deal would create a private company called Utah Brand & Entertainment LLC. That company would exist within the university foundation and would be run by Orto Capital and the athletic department. The university would hold the majority of the ownership. The company would look to create more revenue through ticket sales, concessions and sponsorships.