Big Ten investment partner says conference 'unity' key to potential $2.4 billion deal
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One of the biggest and potentially most consequential deals in modern college sports history has been put on pause — at least for now.
UC Investments, a capital group that helps manage the University of California system’s financial portfolio, said in a statement on Monday, Nov. 17 that it remains convinced that “the unity of the 18 Big Ten university members is key to the success” of a potential $2.4 billion investment in one of college athletics’ marquee conferences.
As part of the proposed deal, UC Investments would get 10% of the Big Ten’s media and sponsorship rights earnings for 15 years, at which point it could sell its stake. The remaining 90% would be divided up among the schools involved in the deal, with the payouts varying based on a university’s earning potential.
“As we have continued to evaluate this opportunity over the past five months, we remain convinced that the unity of the 18 Big Ten university members is key to the success of Big Ten Enterprises,” UC Investments said in a statement. “We also recognize that some member universities need more time to assess the benefits of their participation. UC Investments likewise require some additional time to complete our due diligence as recent developments unfold and we continue to engage with the conference.”
That potential union has received stiff pushback from two of the Big Ten’s most recognizable brands, Michigan and USC, the former of which has been particularly vocal in its opposition.
Mark Bernstein, the chairman of the Michigan board of regents, has compared the proposed arrangement as a “payday loan.” In an interview on Monday with SiriusXM, Michigan regent Jordan Acker floated the possibility that the Wolverines could leave the Big Ten and compete as an independent once the league’s grant of rights expires in 2036.
“I think it’s something you have to think about, not because we want to leave the Big Ten Conference, because the commissioner’s office has made it enormously clear that they’re going (to move forward with the capital deal) without us, and that would be the end of Michigan, as far as I can see, in the Big Ten Conference,” Acker said.
Michigan regent @JordanAckerMI to us on @SXMCollege College Sports Today: “The possibility of independence for football is certainly something that has to be considered. Not today, but at the end of the Grant of Rights (in 2036).” pic.twitter.com/0LPgWoKJL9
— Nicole Auerbach (@NicoleAuerbach) November 17, 2025
The Big Ten is the richest conference in college sports, with many of the largest universities and largest alumni bases in the country under its umbrella, making it particularly attractive to possible outside investment groups.
The conference’s most recent media rights deal — with Fox, CBS and NBC — was a seven-year agreement through 2030 that’s worth an average of more than $1 billion per year. The league’s previous media rights contract was worth an average of $440 million annually.
While a pact would theoretically be possible without Michigan and USC, one of the sides in the potential partnership has made its preferences clear.
“We will continue to support commissioner (Tony) Petitti and his team as they guide this process forward with integrity and transparency,” UC Investments’ statement read. “UC Investments will work closely with the Big Ten in the coming months to allow all its members to evaluate the benefits of our potential investment in Big Ten Enterprises.”
This article originally appeared on USA TODAY: Big Ten investment partner needs ‘additional time’ before $2.4B deal
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