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6h ago

Michigan Regents Reaffirm Opposition as UC Investments Says Big Ten Deal Is on Hold

Opposition from key members has paused the private-capital plan pending unanimous support.

FILE - Mark Bernstein, who is on the University of Michigan Board of Regents, is seen during a meeting, July 13, 2022, in Ann Arbor, Mich. (AP Photo/Carlos Osorio, File)
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Overview

  • Michigan’s Board of Regents issued a unanimous statement restating its refusal to back the Big Ten Enterprises proposal while affirming commitment to the conference.
  • UC Investments CIO Jagdeep Singh Bachher told UC regents there is no deal on the table, citing required approvals, and shared a $24 billion valuation with EBIDA just over $1 billion.
  • The proposal contemplates a $2.4 billion cash infusion for a 10% stake in a new Big Ten Enterprises, with tiered school payouts reportedly starting above $100 million and a grant-of-rights extension to 2046.
  • Uneven distribution of future conference revenue is under consideration, a feature that has prompted objections from schools including USC, whose AD called for thorough fiduciary review.
  • No conference vote has been held, Big Ten leadership rejects claims of coercion, and lawmakers have raised tax and governance questions as the process remains paused.