USC AD Jennifer Cohen clarifies position on Big Ten investment deal and Notre Dame rivalry

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LOS ANGELES — USC athletic director Jennifer Cohen used her latest “State of Troy” letter to address two major issues shaping the university’s athletic future: the proposed Big Ten private equity partnership and the Trojans’ approach to non-conference football scheduling, including the future of the rivalry with Notre Dame.

Cohen acknowledged growing national speculation about USC’s position on the Big Ten’s proposed commercial investment deal, which would create a new entity called Big Ten Enterprises, extend media rights commitments to 2046 and distribute a portion of a $2.4 billion investment unevenly among member schools. She emphasized that while USC values its Big Ten membership and understands the shifting economics of college athletics, the school will not rush into a decision that could restrict future control or diminish the value of its brand.

“As we continue to evaluate the merits of this proposal or any others, our University leadership remains aligned in our stance that our fiduciary obligation to the University of Southern California demands we thoroughly evaluate any deals that could impact our long-term value and flexibility, no matter the short-term benefit,” Cohen wrote. She added that USC’s national profile, history and independent commercial strength give it leverage to be selective and deliberate in this process.

Cohen also addressed the national conversation surrounding USC’s football scheduling philosophy, which recently drew scrutiny as the Trojans navigate a full Big Ten schedule under the expanded College Football Playoff format. She noted USC’s unique position as the only FBS program to never schedule an FCS opponent, and reaffirmed that the Trojans will continue to schedule at least one Power Four non-conference opponent each season—ideally one with historical meaning.

Without naming Notre Dame directly, Cohen made clear the rivalry remains a priority, but that its placement on the calendar must be strategic. USC has been the only Big Ten school to play a non-conference road game after Week 4 in each of the last two seasons, and Cohen said that continuing that pattern would unnecessarily increase injury risk, reduce competitive balance and potentially jeopardize playoff positioning.

“For the well-being of our student-athletes, and to schedule equitably with our Big Ten rivals, we want to play our non-conference opponents in the Coliseum as early as possible every year,” she wrote. She stressed that scheduling will be shaped by consultation with head coach Lincoln Riley, university leadership and feedback from the broader Trojan community, but ultimately guided by one standard: what best positions USC to win championships.

Cohen closed by reminding fans that disagreement is normal but alignment is essential. She described USC’s approach as one rooted in long-term positioning rather than reaction, and encouraged the Trojan Family to remain unified during an era of rapid transformation across college sports.

“Agreement is thinking the same way, but alignment is moving in the same direction,” Cohen wrote. “Trojans are fighters, and we must fight on, together.”

USC is expected to announce updates to its future schedules in the coming months while internal discussions about the Big Ten investment proposal continue.

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