VIDEO: Sports Fans Are Freaking Out After Billionaire Former NBA Owner Reveals He’s Buying Up College Football & Basketball Teams For Hundreds Of Millions Of Dollars
Marc Lasry (Photos via @JoePompliano/X & Getty Images)
Former Milwaukee Bucks owner has set his sights on college teams, having revealed he’s part of what could be a bidding war for stakes in multiple teams.
Lasry, the founder and CEO of Avenue Capital Group, recently suggested that colleges could sell 51 percent stakes in their sports teams and use the money generated from the sales to upgrade their facilities and make NIL investments.
You can see his explanation in the video below:
Former Milwaukee Bucks owner Marc Lasry says he is actively trying to buy college football and basketball teams.
Lasry says certain colleges could sell a 51% stake in their teams at a $500M to $750M valuation and then use that money for NIL and facility upgrades.
Crazy times. pic.twitter.com/glUempWB6S
— Joe Pompliano (@JoePompliano) December 6, 2024
Fans On Social Media Were Taken Aback By Marc Lasry’s Revelation
Marc Lasry’s suggestion left some in understandable shock.
“Pretty wild how college sports went from “athletes can’t make money to protect amateurism” to “let’s sell majority stakes to billionaires” in just a few years,” someone wrote in the comments.
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“college sports as we knew it is gone, fortunately or unfortunately depending on how you look it at. definitely going to be far less programs in 5 – 10 years, which is sad,” someone else predicted.
“Excuse me!? Are these publicly funded universities? When does this become something where the gov and capital are at their worst while selling the dream of what is a deeply important thing in ppl’s lives,” a comment read.
Excuse me!? Are these publicly funded universities? When does this become something where the gov and capital are at their worst while selling the dream of what is a deeply important thing in ppl’s lives— Andrew Clark (@candrewclark) December 7, 2024
If Marc Lasry turns out to be right, the gulf between college and professional sports would tighten significantly. However, it might open up plenty of scenarios the NCAA would likely want to avoid.
