Syracuse, N.Y. — Syracuse Chancellor Kent Syverud is part of a “think tank” looking for solutions to foundational problems with college sports, including the possibility of private equity groups investing in athletics.
ESPN’s Pete Thamel reported on the possibility of private equity coming to college sports on Friday, noting Syverud’s involvement with a group of people that include search firm executive Len Perna, David Blitzer, a Blackstone executive, co-managing partner of the Philadelphia 76ers and New Jersey Devils and prominent sports investor, former Major League Soccer president Mark Abbott and other university leaders.
The group is one of many that are trying to re-imagine college sports in a world where many of the rules traditionally enforced by schools have been struck down by courts and the importance of money has continued to grow.
College leaders are looking to figure out how to balance high-profile sports led by football with Olympic sports which generate little revenue, as the potential for unionized athletes and revenue sharing continue to grow.
“It’s been obvious the whole college sports system has been a dead man walking for three years, driven by legal developments,” Syverud told ESPN. “What’s going to come out of it is the thing that hasn’t been clear. The current system can’t continue, it’s a dead man walking.”
College leaders have asked for the help of congress to allow them to create rules that will make re-shaping college sports easier but, to this point, politicians have been more unsuccessful than college presidents in creating positive change.
Perna is the CEO of TurnkeyZRG, a popular search firm used by schools and leaders in college sports. The firm was part of the search for ACC commissioner Jim Phillips, which Syverud led on behalf of the conference.
“The current rubric isn’t academically tenable, nor affordable, nor even logical,” Perna said in a statement to ESPN. “It’s worth the time to explore…
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