Speaker 1: It's time to celebrate the biggest team sport known to man,
where modern day gladiators collide for all the glory on
the grid.
Speaker 2: I let's talk some.
Speaker 1: College football on Cougar Sports with Ben Cridl.
Speaker 2: Welcome back to the sports one of three nine ninety
eight Quick three ESPN the Fan.
Speaker 3: I'm Ben Crittle broadcasting from our Banterwell Studios Banderwell dot com.
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Speaker 2: And he's time for a little college football segment.
Speaker 3: Get a welcome in uh b YU Insider Cougar Sports Insider. Yes, indeed,
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Speaker 3: Love that bredon Day, CEO of Video Men's War, Odeo,
Menswear dot Com, Braiden Cougar Football their Siny Clash. I
think that's the best signing class and BYU football history
top twenty one. And you flipped a few commits too
while you're at it from the University of Utah. You've
been you know, a big bo your fan for a
long time. In this modern era, nothing really matches that
recruiting ranking or the recruiting class.
Speaker 2: Who was your favorite out of the bunch.
Speaker 4: Oh, I mean, I'm gonna say Rider aside just because
I think that one, like like everybody's gonna go for
the quarterback or bau right, that's what we're gonna say.
But I think outside of Rider, I think the one
probably Brock Harris. Again I'm going against an another, but
Bot Mutlo is gonna be awesome too. So I don't know,
it's hard to pick somebody out of this class because
I love that we have such a high average. I
think our average is above eighty five. Maybe I don't know,
it's eighty seven, right, And so I think just where
we're at in terms of twenty four to seven rankings
and everything is awesome. It's awesome the programs at this point.
If you've see what Ba's doing right now with the
classes they had before, just imagine what they can do
with the same program we've got going. Everything we've got
in terms of the culture, all those different things. I
think you bring in this amount of talent and it's
really excited to see what we're gonna do with it.
Speaker 2: Love it, love it man. Yeah.
Speaker 3: So this this BYU football team the last two years
eleven and two, eleven A two top twenty signing class.
When was the last time things were this good in
Cougar football country?
Speaker 4: I mean before I was born, Like back in the eighties.
That's the only thing I can think of. I mean,
we had a good run there three years in a
row with you know, during your years of seven oh
eight o nine, those were some really good years that
that was the best time of t B A B
A FEN during my lifetime. But I think this, you know,
is above that, and it's got to be the eighties
is the last time we had the program turning this way.
And I personally, again I don't I wasn't alive to
who knows, but I think the trajectory and what happened
with the colony extension and all that kind of stuff
looks makes you know, I think this these two years
are really just springboards into what's what's what's potentially out
there in the next couple of years.
Speaker 3: Yeah, it's Uh, it's a great day to be a Cougar,
no doubt about it.
Speaker 2: We're going We're getting back to the glory days. Uh.
Speaker 3: What's the ceiling for this team? Would you say, what's
the ceiling for Koloni? What's the ceiling for Cougar football
right now.
Speaker 4: So I just remembered something crittled that I needed to
tell you because you weren't on last week when we
did the interview, that you kept giving me crap to
not have this blue goggles and that I should get
my real projections now, my blue goggles projections. And I
just want to ask who was closer. Whose projection was closer?
Speaker 3: I said the ceiling was nine to three, and you said,
I think fourteenth thirteen for the regular season.
Speaker 4: I think it's yeah, I've probably done sixteen and oak
because we were winning the Natty. But yeah, no, but
but I think I can't remember your question now. Sorry,
I got so I just wanted to make sure I
put that out there to you.
Speaker 3: No, you know, I'm just say it was the ceiling
for this Cougar football team. Obviously you're a National Championship
or bus guy. Uh, you know it's every single year
sixteen and oh, but is the ceiling Natty?
Speaker 2: Once again?
Speaker 3: When you watch that Texas Tech game, do you see
the kaza between Elite and Great?
Speaker 2: How far away is b yu?
Speaker 4: I think we're it's possible, but it's still gonna be
super tough to get into that better, But I think
I think it's there.
Speaker 1: Like obviously I think.
Speaker 4: Texas Tech we could have won that game. Things go
a little bit different. Obviously it pulled away, but going
in three minutes left in the third quarter down by
six points, like we were still in that game until
all of a sudden will sell off. I still think,
do they win that game? If we played it ten times,
they win it eight of the ten or seven of
the ten. And I think that's where the gap. Where
can we get to a spot where we're just as
good as them. I think it's going to take this
recruiting classes like we just really had, and then getting
a few key pieces out of the portal And I
think it's upfront. I mean, you look at that what
that defensive line, the problems it causes because they're able
to do They're able to go just four down and
not have to bring anybody else, and keep people in coverage,
keep people, you know, sound gaps down on all those
different things. I just think the defensive line is just crazy.
But I think we're I don't think we're that far off.
I think it's just a couple of players. I think
the NIL and Portal era make it possible, So that
gap is getting closed. I mean back in the day
of the you know, the Bamas and Georgia's of yesteryear,
when before that was happening, I feel like the gap
was even bigger. I really think we're just a few
players away from closing that gap.
Speaker 3: Just a few years away from closing that gap. What
do you got from me?
Speaker 2: Ap?
Speaker 5: So if I give you the over under two and
a half, are you taking the over under two and
a half years before BYU gets into the college football playoffs?
Speaker 4: Who that's tough. I'm gonna go. I mean, my my
blue goggles under. I think I think we've got an
under that. It depends on what happens with the College
FOOTBA playoff expansion too. If we go to sixteen or
twenty teams, then I think that it's an one hundred
percent under. If we say at twelve, I think that
two and a half are pretty dann good over underline.
But I think with the recruiting class the things stay intact.
I'm gonna take the understill.
Speaker 2: I like it. I like it.
Speaker 4: When are we gonna get to the when do we
get into the final semi semis? I think over I
don't think we're there yet. I think it it's gonna
take more than just that to be able to actually
be competing for a national championship.
Speaker 1: At the end.
Speaker 4: But I think getting into the playoff, yeah, we're we're
I mean, we were almost there this year, so I
don't think it's crazy to say under on that.
Speaker 5: Well, So, so do you think do you think BYU
can get there under Kolone Satake or will it be
the next guy after for Klannie?
Speaker 4: I think I think it's Colone. I think I think
we can. Whether we will or not, I don't know,
but I think Colonie is the perfect guy to get
us there.
Speaker 2: I agree.
Speaker 3: What do you make Brandon of kind of the the
eleventh hour signing and contract extension of Kolani, Were you,
you know a.
Speaker 2: Little bit miffed at that, Like why did it come
to that?
Speaker 4: Yeah, I mean I was. I was nervous. I was
definitely nervous that at first. I was like, Oh, this
is just Colonna, you know, kind of getting some leverage
there so we can get what he wants to do
AU And I'm you know, the more you hear sometimes
I do think that was a little bit of it.
But there were some talks on that Monday morning that
and I was hearing that. It was like he was
basically gone already. I don't know how much those were
just rumors what was going on, but I think it
was very legitimate, and I got very, very nervous. It's
hard to read into what actually happened. Who's at fault,
because you know, you're hearing different stories from different people,
But I was. Colonie's mentioned a couple time now in
interviews postgame interviews that he wanted it to happen before
the bye week. So the fact that he's putting that
out there makes me think that he's in wanting this.
And ba Is wasn't moving, and he's like, well, if
you're not gonna move, and I'm gonna start moving, I'm
gonna start looking out elsewhere or at least get some
leverage there. And so I think I was very nervous.
But I think the fact that it happened and he
had the leverage that he had, I think sets Bau
up for a ton of success. I mean, some of
the rumors out there that he's gonna have more control there,
you know, change some of the structure, who can pay
salaries and what. I think A lot of that stuff
really does affect the long term ability for BAU to
get to where they want to go and where we
want them to go.
Speaker 3: Yeah, it's a great situation right now for for BYU.
In my opinion, you're gonna have an influx of cash
rev share ten to fifteen in NIL. Coaches are getting
paid well, so you should be able to retain most
of your players and I hope and hopefully your staff.
Speaker 2: Where do you expect attrition?
Speaker 3: You know, how many players do you think we're gonna
we're gonna maybe possibly lose in this cycle?
Speaker 4: I think, I mean, what we've always seen up until
this point with with it is that we're losing one
to two key players that you're like, man, that's gonna hurt.
But then the rest of it we're we're getting in
just as many or more. I think we've been a
net positive in the in the portal so far. I
think we're gonna start losing depth pieces that are unproven
talent but think that they can go get a better
shot somewhere else. I think is what we're gonna start seeing.
So guys like John McKenzie, who I think has potential there.
I think La Maison Waller, those are guys that like
there's a potential there that that's where we're gonna get
hurt the most. We probably lose another starter or two.
I hope not, but I think that's just the nature
of you know, as we were kind of looking through
those numbers, and in my head, I'm like, okay, Like yes,
even if we let's say that the between the revs
and the ten to fifteen and nil, like she said,
thirty million dollars, like with what some of the offers
that are getting said out there for these different positions,
that still doesn't mean you can just like pay thirty
million as a ton, But that doesn't mean you contain
all you all your talent. If somebody else is gonna
come after them as they are number one and you're
and they're all are number three, they're just we can't
throw the money at them. So I think we're gonna
miss a couple of starters here and there every year.
But I don't think it's gonna be crazy. Just because
of Colonie's culture, I think we're gonna be able to
retain who we want as long as they are our
top priority. I think we'll keep.
Speaker 3: Them Lamson Waller Don McKenzie currently in the in the portal.
You know, what was your reaction to those two individuals
jumping at the portal two wide receivers spots.
Speaker 4: I'm sad, Yeah, I'm sad. I think Dom. I was
excited about Dom' speed and then you know, we saw
some highlights coming out of spring with la Mason making
some pretty acrobatic catches and I really was high on him.
But I'm wondering with him. You know, it could have
been a fit thing too, not just the playing time
because he was hurt half the season anyway and didn't
wasn't able to play. But I'm sad, but again, it's
not the It's not one of those situations where you've
got to dick hapstake at year to year. And I
don't think that either one of them were going to
be our studs next year, So I don't really think
that I'm that worried about it.
Speaker 2: La Mason had potential though four star.
Speaker 3: Dom was a three three star speedster, you know what
I mean, Like he had a nice touchdown earlier this
season off the edge, showcasing that speed.
Speaker 2: These guys had power four offers, power five offers.
Speaker 3: Right, I can't remember all of uh all of Dom's offers,
but I know he had been he had committed to Virginia.
If I'm not mistaken, you of a pitt duke. Obviously
b YU had offered him, he was enrolled there, Santago State,
Oregon purportedly offered at one at one point, Air Force,
Sage State, UNLV, Utah State. I mean, these are these
are death guys too. These are death guys too.
Speaker 2: Yeah, up and eventually have at junior or senior year.
Speaker 4: And that's awesome. That's that's the thing is. But how
cool is it now that we have guys that are
depth pieces that were Yes, obviously I'm sad because I
really do think he could have turned into something. But
at the same time, how cool is that our depth
pieces now are guys with competing P five offers, people
are offers and are as highly counted as he is. Like, yes,
I'm sad because of what he could be and when
we signed him it was like, holy cow, this is huge.
But how much talent we've gotten since then, and the
fact that he still didn't crack the two DP. Yes,
he's just the year off of his mission. So I
really think. I'm sad about the potential, but I think
year to year is the roster construction, and I didn't
expect him to be a huge piece next year. So
I guess that's where I mean, it's not a huge
deal just because next year it doesn't make a huge
difference in my opinion, who's.
Speaker 3: The priority right now to retain. You want to get
out in front of it, because you're right, hey, this
guy could could, could could bounce if given a better opportunity.
Speaker 4: Else will bear, And I think that's I didn't think that.
I mean, I was obviously he's gonna get tons offers
just because of who he is. But you know, a
couple of players in the post game saying like if
we can keep Bear like that, just some of those
comments got me nervous. I think bears a huge piece
to it. And then LJ, but that's more from the NFL.
I don't I mean, he could transfer, but I don't
see him going to another school. But I think if
we can, LJ is such a huge part of that
running game, and I think, I mean, I think is
better than what the general fan thinks he is. And
he was just hurt for so long. This year, but
I don't know you want him to be your RB
one to be as successful as we want. I think
he's a great RB two. So those are the two
I would I would focus.
Speaker 2: On do we need what do we need to the portal?
Speaker 3: What positions of need are there with guys graduating and
h you know you you hope to retain everybody that
has eligibility remaining, But what do you need to go
get in the portal?
Speaker 4: I would say, I think tackle. I know there's contradicting
kind of thoughts on where the tackles are, but I
know it's in a proven space Andrew Gentry comes back
most likely, so I think we have one tackle there
that's proven but tackles the spot. But then I also
think defensive tack is a spot where I'm I'm nervous.
If Keanu doesn't come back, and if Kirklea doesn't come
back healthy, then we have a bunch of depth pieces
there and not really a starter. So I think our
number one spot we need to go after is defensive
tackles because you know, we like to go at least four.
We like to rotate four all the time, but we've
gone six before and so I think you want to
have six six defensive tackles you can play, and we're
not right there in my opinion, So I think that's
the number one priority. But besides that, I think we're
pretty I don't think we need to go crazy on
any other position besides running back. I kind of like
I said, if I Lj's there, I'm less worried about
running back. With LJ goes, we need to go hard
heart in the portal defensive line, and then I think tackles.
Speaker 2: I like that take.
Speaker 5: How do you feel the linebacker room has a potential
to lose a few guys? Obviously Jack Kelly is gonna
be gone. Isaiah Glasker you never know what he's doing.
How do you feel about the guys behind those two
stepping up next year, potentially in the starting role.
Speaker 4: I think getting chambered at stroller back and then being
there as KAFUSI. I mean, Miles Hollis played some good reps.
I'm not too worried about linebacker. If you lose obviously,
you like you have to replace Jack. If you lose Isaiah,
then I'm a little more nervous. But I still think
we have a ton of talent there. And I think
we're we're okay. I don't think you really unless there's
a difference maker that you just have to go after.
I don't really think you need to go to the portal.
I say, I trust the depth there. I think you
got athletes on athletes stacked in that room. Pierson Watson.
I've heard so many good things out of you know,
fall camp and then practices out of him, So I
think we've got a lot of talent there. I'm not
too worried about that room.
Speaker 2: Not too worried about it this last year.
Speaker 3: Right, So let's look at the guys that left, Okay,
do you think all of them are regret leaving? Do
you think Keelan regrets leaving?
Speaker 2: Do you think? I don't think Jake does. He's too late.
Speaker 3: He's going to see Yea, Kila's in the playoff too,
you know what I mean? And it's like Harrison Taggart,
who else had I got? Who else had I got?
Speaker 2: Here?
Speaker 4: Those that I feel like that we're Yeah, those were
the three starters. I feel like that we lost.
Speaker 2: I'm trying to think.
Speaker 4: Ye I think I heard a rumor that Cruz not
happy with his decision. I don't know if that's true,
but I heard a rumor, but I think the other
I think Harrison probably wishes it too, just because they
were when Trey went out and then Sila was kind
of dealing with some stuff. I think Harris would have
gotten some good reps there. But I don't think we
missed him crazy amount. But I think he probably missed us.
But I think with obviously Jake had to go, I
mean that not had to, but basically there was a
decision with made for him. But I think Kielan Kilan
is the one that made the choice, and he's probably
fine with it. I don't think he's like, oh, man,
I really shouldn't have left. I think he's gotten a
lot of reps still there and still done quite a bit.
I think he would have been the one or wide
receiver one or two this year. I think he would
have taken a lot of what Kingston did, even though
I love Kingston. I think they were hyping up Marion before,
but I think he would have been more featured on
this team. But I think if it's his, you know,
I just think he probably would just find it that
Miami didn't feel too one way or the other.
Speaker 3: Yeah, So you had Carson Sue Sue, Josh Singh to Vanderbilt,
he played Simoni, David Ers and Taggert to cal Keel
and maryont to Miami, Porter Small, De Weaver State, CoA
Elders went to Hawaii. Nason Coleman went to nau Landon
Rico went to Utah State, Cale Bresen went to Montana State.
Kate Finigan I think, went to Aveline. Christian Carson two
J went to Utah State. Jky Corn to Utah State,
David Logito Boise State, Noahlugo UTSA, Dallan Johnson, Utah Tech,
Ice Mode in Michigan State, Crew Wakey to Purdue, Dalton
Riggs to UCF.
Speaker 2: We saw him in provo again.
Speaker 3: Dallenjvea Utah Tech, Cody EPs Western Kentucky.
Speaker 2: I think he retired though Michah.
Speaker 3: Harper went to Montana, Jackson Bowers went to Oregon State,
Miles Davis to Utah State, and then I think Shone
shony Moa ended up either at Yukon or Weaver.
Speaker 4: Yeah, yeah, I don't. I don't think. I mean, there's
probably some of those guys like Manic, you know, I don't.
I didn't follow every single one of those. I think
we talked about the four that I really followed super well.
I know Jake Gikorn ended up starting up at Utah States.
I'm sure he's happy with that situation, but yeah, I
think it ended up being okay, And that's what I
have felt mostly out of the portal. We've been winners.
We've let other guys that are good players but can
go get more rep somewhere else. They've ended up leaving,
but we haven't really lost any huge key pieces, at
least a multiple of them, because I think Kilany's culture
breeds that. And then we get people to come back
that were recruited by us and went and chased the
bright lights, and then they end up coming back to
us because they realized that's not as big a deal
as they thought it wasn't. Hopefully that stops happening all
together because recruiting is get up better. But but yeah,
I think the portal is a net positive for BAU
every year.
Speaker 3: So the net positive portal of Brigham Young University. I
hope it give it rather than take it take it
away this offseason as well. This last offseason, though, you
picked up Tiger Bachmeyer Justin Kirkland, Tavian Beasley, Alvin Peyafua.
Speaker 2: I don't know if we saw him much.
Speaker 3: Bear Bachmeyer great pickup, Kea Need, Navasa, Max, Alfred Carson,
Ryan and E. C. Purcell to Celia Khana, Andrew Gentry,
Kyle super Choke.
Speaker 2: Who's the outside of Bear? Who is the best acquisition?
Do you think?
Speaker 4: I think Keanu ton of Us. I think he gets
craped for not performing like you did Utah, but with
him and John t next to him, he ended up
playing the one tech more than I think he would
have normally. I think if Kirkland was helpy all season,
Kirkland plays the one tech and Knew plays the three tech,
and I think he ends up getting more. But when
he was taken on double teams so much, I think
it he got lost in some of that. But I
think you definitely say there. But then also Kyl Sapartrak
was huge for us, and obviously he rotated with the
with the three men rotation they had in that spot.
But I think, I mean, when you read through that lift,
I had already known some of those names, but I
had forgotten about some of them being transfers. I think
we definitely won on the portal last year, like it's
not even close.
Speaker 5: Well, I do have a question here, what do you
think the solution is at the tight end position? Because
Carson Ryan was a he was a great one year fix.
What do you what do you think the solution is
for next year? Is it the portal again? Do we
trust some of the guys behind Carson?
Speaker 2: What do you think?
Speaker 4: I think it depends on what what goes on. And
actually just read an article from Jeff Hanson about this,
so this is on the top of my mind, But
it depends on what happens with ty GOOCHI or however
you say his last name. If he decides to go
on a mission first, then I think you might have
some scholarship capital of the triango in the portal. Besides that,
there's a ton of scholarship guys in there, and yes,
you might be able to push some of them to
the portal, but I think they might have to roll
with and this is kind of quoting Jeff Hanson, I
think they might have to roll with the depths that
they have there just because of where they're at in
terms of numbers. Because they've got guys in this in
the system that are going to be there next like
in the next couple of years. They're loaded on tight ends,
but we do have that couple of year gap now,
and I think if they can have the scholarship capital,
I'm sure they go after somebody and try and get
a starter, but they might just have to kind of
roll with Noah Moyaki and and hen Need being the
guys next year, and then hopefully if Ty does play
Taigauchi or however you say his last name, you know,
kind of hopefully showing out. I think he's he is
an underrated recruit. I think he's going to be awesome.
I'm excited for him.
Speaker 3: So yeah, now, ty Ty Getch is uh is the
freak athlete of this of this class, and he's uh, He's.
Speaker 2: He's a really nice pick up.
Speaker 3: We'll see how he how he plays in a b
YU uniform, no doubt. All right, Bradon. The best way
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Speaker 2: Appreciate you, Braden, Thanks for hopping on.
Speaker 4: Thank cookies.
Speaker 3: Yeah, buddy, tis the season to be given, speaking of giving,
and the road home is here to give back to
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and help others find their way home. Let's take a
brief time out. We'll be back Let's talk stats with
Blaine Anderson, and I want to get his thoughts this commentary,
his insight on this private equity, what's cooking up on
the hill and uh is it too good to maybe
be true? That coming up next, this is Cougar Sports
on one of three nine ninety eight point three eight
SPN Stats.
Speaker 6: Let's talk about stats.
Speaker 1: Ben Cretinal and his team of former players and insiders
give you the latest stats, data and analytics that are
trending in the world of Cougar Sports Stats.
Speaker 3: Welcome back your sports one of the three nine ninety
eight point three ESPN the Fan. I've been tital broadcasting
from our Banterwealth Studios Banterwealth dot com. Get on a
free Q and A no obligation to invest Q and
A with our tax smart wealth advisors today and we
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He's NFLPA certified financial planner, Blaine Anderson to discuss private
equity in sports.
Speaker 2: Blaine, how the heck are you?
Speaker 6: I'm doing good? This is a big topic. Ben, happy
to join you and be on the show today.
Speaker 2: Thank you, Thank yah Man.
Speaker 3: I want to lean into your expertise and your knowledge
We've been very h you know, kind of hesitant to
go all in on private equity and sports. It's been
a bit of a hiss and a byword for many
that appine on this within the media, sometimes within fan bases.
Private equity has been flirting with athletic departments for a
while now, and athletic departments have been flirtatious with them.
University of you Tah the first to jump into this
and decide that this is for them. Private equity is
obviously porn in but both both professional and now college
athletics now, so help us understand why investors are so
attracted to this space right now?
Speaker 6: Well, as you mentioned, Utah became the first university to
formalize what schools across the country have been evaluating for
really at least for the past two years. And someone
was going to take the first step, and Utah decided
that waiting was riskier than acting. And so here we
are the first introduction to private equity within college sports.
I can say I've been seeing it on the professional level.
We've had funds present their funds to us, and vander
does a lot in the private space, so this area
is not foreign to us. The private equity and the
private investments. To answer your question, private equity has taken
over a lot of industries. We're all seeing it, whether
it's real estate, even land. We're finding a lot of
farmers private equity coming in buying a lot of land.
But the thing about private equity is, as we know,
they're not looking for five percent returns. They typically target
mid teens to twenty percent annual returns with two to
five times multiples over seven to ten years. That's why
a deal like Utah has real estate or has real
expectations tied to revenue growth, and that's why private equity
and investors they're in it to win, and they're going
to look to drive up that return on investment and
it's usually twenty plus percent that they expect.
Speaker 3: Yeah, so there's a certain number that they're going to
get right off the top.
Speaker 2: It seems right.
Speaker 3: They're going to take the revenue right off the top
of that. Hey, this is ours for this investment.
Speaker 2: Correct.
Speaker 6: Yes, oftentimes there's going to be a capital infusion. My
understanding is that this this deal here to start, is
it five hundred million dollars?
Speaker 2: Yeah? Pretty crazy.
Speaker 3: They're also inviting donors to have an equity stake in
it as well. I think that's I don't know if
that's been a part of all of these private equity deals,
but they're inviting donors to have.
Speaker 2: Ownership. It used to be as me.
Speaker 3: You know, tax deduction, right, tax deduction we're talking about
at the end of the year, you're looking for tax deductions.
Speaker 2: You got a few million in the bank.
Speaker 3: You're like, oh, well, i'll give it to the university
that I love, the athletic department that I love, and
you get the tax deduction. How does it work if
you're a donor and you put that money as an investment,
as an equity stakeholder in this new Utah Rands LLC.
I know, so I'm going to, you know, kind of
throwing one at you here, but I wonder what that
would be.
Speaker 6: Well, the comparison I can give is with a fund
that we've been working with in professional sports. So this
is for private equity, and there's a number of professional
teams that many of our listeners, even the Yankees, the
San Francisco Giants, the Las Vegas Athletics, these are all
teams that have opened up minority stakes in their club
for investors to come in and so investors usually come
in with investments as low as one hundred thousand dollars.
They have an expectation usually around fifteen to even twenty
five percent per year return. The life cycles are often
seven to ten years. And what I'm seeing on the
professional level and with some of the funds that we've
been presented, is that these teams are looking to expand
more than just the game itself. They're getting into the
real estate around the stadium. They're getting into the hotels,
the hospitality, they're getting into the marketing. Of course we
know about the media contracts, but the restaurants, all of
the shopping around the stadiums. It's becoming much more than
just the game itself, and they want to open up
pieces of the business ownership of the company and the
teams usually in five ten percent, but to investors so
that they can make an investment with an expectation for
a return on that investment. And there's some tax implications
and benefits, but really it's more about that return on investment,
their expectation to get a cash return for their initial investment.
Speaker 3: Yeah, it's an interesting foray, no doubt about it.
Speaker 2: And so you know, you.
Speaker 3: Taught is the first program to jump into the first
domino to fall. Why do you think they move first
in all of this mess?
Speaker 6: Well, really, as I think about it, there's a couple
of things. But when we look at it from a
national scale, the Big twelve schools are tens of millions
of dollars behind the SEC behind the Big ten and
annual revenue, we know that the new cost for the
media rights and the revenue shares about twenty and a
half million dollars a year. UTAH mentions that they refuse
to raise student fees, cut sports, cut academic or research programs,
and that the status quo jeopardize their future. And so
there's a few nuances things that I've read about this
deal that I'll mention here in just a minute that
I think give them some outs. But now they're wanting
to maximize efficiencies from a business standpoint, from a private
equity standpoint on ticketing, events, sponsorships, inil distribution. So they're
definitely commercializing that side even more, looking to enhance the
efficientes of the business. Ultra Capital, which is the PE partner,
now owns a minority stake in the business. UTAH owns
most of it, and they still control athletics, whether it's coaches, scheduling,
who gets the Nile, etc. But I'm confident that it's
a to raise the bar within the conference but also
to improve their positioning across the country as a team,
and money and expanded resources are going to drive that.
There's some risk to it, but I see the reward.
Speaker 3: What does this process look like? How does the deal
actually work? Utah had to essentially create a new company
and separate their football program from their ad How does
that actually work?
Speaker 6: Yeah, from what I've seen, this is a test case
really for the entire country. It's a first of its
kind partnership. Universities nationwide have been exploring this, and there's
been a few in particular. I know the Big twelve
considered this with a pe. The Big Ten almost did
a multi billion dollar deal with UC Investments. Kentucky and
Clemson have established internal companies for athletic business operations. From
what I've seen and read, they have essentially sold out
a portion of the athletic department to a private equity
group who will now manage the business operations. And there
is one piece that I read to this that I
found very interesting and that's that UTAH can buy backtro
is the name of the PE group Ultra Capital stake
in the future, and so I think that does leave
them a good option to still have some control. But
they've established a board, a seven person board. It'll have
four Utah reps, two Ultra Capital reps, and then one
university supporter or investor, and they'll run it even more
so like a business. And with that it's a for
profit business. So I'm sure there'll be some trickle down
effects to us as fans, but definitely the idea is
bring in more money, maximize efficiencies, and expand their operation.
Speaker 3: Crazy times, no doubt about it. What kind of returns
do you think these private equity firms expect, right, I
mean you talked about a few numbers here, like what
are they looking at as far as an ROI for
their private equity stakeholders.
Speaker 6: Well, most private equity funds target around fifteen to twenty
five percent net internal rate of return and that's a
two to five times multiple, so doubling or even five
times multiple on invested capital over a seven to ten
year period. So these are higher risk, higher return opportunities.
They're not entering polished sports to simply stabilize. They expect
significant commercial growth and that's why UTA's business operations, ticketing, sponsorships,
and il concessions will be run with professional, revenue focused deficiency.
And to answer your question, I would say they're in
it for at least twenty percent of year is what
I would expect that investors want to see with their investments.
Speaker 3: I mean, you compare that to other investments twenty percent.
I mean that's hard to hit that that mark twenty percent.
You talk to any investor, you say twenty percent return
on your money, they tell you there's no way, like
that's too good to be true.
Speaker 6: Well, absolutely, and private equity is known for being the
type investment going for a triple or even a home run.
There's higher risks, there's higher reward. And I'm just speaking
in general when I talk about those returns. I don't
know about this one specifically, but I do know private
equity funds target fifteen to twenty five percent. And you're right,
those are higher risk, higher returns. But maybe some of
the people will be doing it also because they can
support a program where they can support an entertainment that
they like. We all know that we as a society
are the ones that push a lot of this. I
mean it's we make memories together, we enjoy going to
the games. There may be some I don't know if
you call it altruistic, but maybe just some internal motivations
for some investors to support the program. But instead of
just going after a text right off, now they can
do it with an expectation for a return on investment.
I don't know how much of this will be opened
up to every day investors. I know, even the fund
that we work with is pretty limited, so I don't
know how much of that will be shared or displayed.
But I'll be following it closely and interested to see.
Speaker 3: Very intriguing private equity getting into collegiate analytics and write
here in the great state of Utah. You've talked a
little bit about how players have felt underpaid for years. Right,
You've been involved in the last five years with the
student athletes representing these football players, basketball players. What is
that feeling that you've gotten from them, like how underpaid
have they been?
Speaker 2: Do you feel well?
Speaker 6: And that's why, just me personally, with my own perspective,
I have been somewhat conflicted on this because I remember
even pre in IL, I remember players being mobbed for
autographs and interviews and then going back to extremely modest
living situations and conditions. And then I did feel like
in IL finally gave athletes as a share of the
value that they create, the entertainment that they provide all
of us. But the cost of doing what's fair created
financial pressure that has led to deals like this where
now it's swamm back the other way. And I've always
referred college sports over professional, so to me, this is
definitely a step more towards professional. It's certainly seems right
and fair for the players, especially coming from where they
did pre NIL, but that pendulum is swinging, and it's
swinging hard back the other way, and this is a
huge step and commercializing college sports and maybe even losing
some of those things that we liked before as fans,
but that probably weren't all that equitable to players.
Speaker 3: Yeah, Like, you know, people got to they got to
be paid a fair market rate, right.
Speaker 2: We talk a lot about that on the show.
Speaker 3: It's you know, are we honest in our dealings with
our fellow man? Well, to me, being honest is given
a fair market rate for a fair day's work.
Speaker 6: Totally totally. And I remember seeing some of the players
before and I would think, gosh, that's such a shift
where they got seventy thousand fans rooting for him at
a game, and we know the hard work, and really
they're one percenters. I mean, there's not a lot of
people that could go and do what they do, but
yet they were so significantly underpaid before. And of course
there's been a lot of evolving that's taken place in
the last five years. And I think this is just
the new reality and the new world of college sports.
And there's not much you or I or many of
us can do about it. It's just the capitalistic world
and the society we live in. And you know, certainly
paying players and having them received more of that pie
to me makes a lot of sense. It wasn't. I
didn't like the way it was before either.
Speaker 2: Yeah.
Speaker 3: Yeah, there's definitely a balance to it all, no doubt
about it. As you love sports, right you know, you
love college and professional I thought he's look like collegiate
athletics as professional sports. Now are you are you worried
that that we're losing the identity of collegiate athletics right now?
Do you feel like it's going too far to professionalism
and transactionality rather than transformational in this collegiate world.
Speaker 6: Well, for me being honest, yeah, a little bit, I am.
I mean, I am one that has always enjoyed college athletics,
and I think we as friends and family haven't made
many memories together around college sports, and we've always said
we like the college athletes. They're playing for something. They
seem to care a little bit more. And I don't
know if that'll go away, but it's definitely moving more
towards professional sports. And there's not really much that I
can do about it, of course, but there is a
little bit of that fear, and I don't know if
there's anything we can do about it. But I'll still
be supporting our team and probably still more of a
college guy than I am profession uh. But private equity
coming into the college landscape is a step towards commercializing
this in a way that we've never seen before, and
I think it will be different after this.
Speaker 3: Blaine Anderson Certified Financial Planner, tax Mart Wealth Advisor n
f l P, A certified financial planner from Banterwealth, Batterwealth
dot Com. Here on your Utah ESPN Radio network talking
private equity in sports. Uh is, well, let me give
me give me your takeaway right now, your final kind
of takeaway for listeners about private equity and in college sports.
Is this going to be a good thing or a
bad thing for the overall product, for the players, for
these universities as well. There's multitude, there's a there's multiple
facets to this and multiple impactful parties or impacted parties rather.
Speaker 6: Yeah, it's a I've thought about that a lot, and
I think this will definitely become a trend. I think
we'll see more of it. I didn't like the way
it was before, and especially getting to know some of
the players on a personal level, I remember feeling like
something had to be done about their situations. So I
do see this as maybe even an over correction in
a way. But like I said, I don't think there's
much we can do about it. I think it's the
new reality, and I'm surprised you taught me in the
first really significant private equity investment in the country. My
take on it is that it was bound to happen
at some point. I do like that it's now more
transparent and everything's on the table. I think that gives
a university like US, even at BYU, more of a
competitive edge, and we're seeing that the last couple of years.
I think my response to that, Ben would be, I'm
still a believer in a capitalistic society and this is
just one way that this is materializing and demonstrating itself.
So at the end of the day, I've got to
be supportive of it. It applies to my greater principles
and view on life.
Speaker 3: Love that man, well, we all know b YU ain't
getting into the private equity game, right like.
Speaker 2: You don't ever see that happening.
Speaker 6: Not necessarily. I don't think that they, I mean, at
least right now, it doesn't seem like they need it
quite as much. I mean, there seems to be pretty
good support. But who knows. This could be like the
N I L and and materialize and even developed quickly
and like it's like it did with N I L.
Speaker 3: Yep, Let's we'll see how it all plays out. I
think b WA's in a great spot all things considered.
I think this move from the from the University of
Utah is UH has been a bit pressured by by
us UH moves in the NIL space and how the
donors have rallied in my opinion, so we'll see how
the the what the reaction is up on the hill
and how it ultimately pays dividends for those stakeholders. But Blaine,
appreciate our time together. For those that would like to
get on a free Q and a no obligation to
invest Q and A with the tax smart wealth advisors
of band or Wealth, how can they do such?
Speaker 6: Yeah, visit our website at Banderwealth dot com. You can
request band Erwealth tax Smart Playbook. We have one for
real estate investors, for business owners and it's a great
way to see some additional strategies that are out there.
Perhaps have a conversation with your accountant or give us
a call. We're happy to talk shop. We love talking
to tax smart wealth strategies. We do both private investments
and also public investments. So visit our website Banderwealth dot
com for some good information and get a copy of
a Banderwilth tax Smart playbook.
Speaker 3: There you go check it out today, Ladies and gentlemen,
Banterwelthbetterwealth dot com. Thanks so much, Blaine, appreciate you hopping on.
Speaker 6: Always a pleasure. Thank you, Ben, Love the show love.
Speaker 2: And appreciate Blaine Anderson.
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