University Of Kentucky Converts New Model To Convert Athletics Department Into “Champions Blue LLC.’
- Thread starter villefan76
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When Oklahoma’s President threatened to move their basketball stadium out of Norman last year if the voters didn’t approve their special tax district scheme so they could develop the area around a new arena like NBA and the NFL the writing was on the wall.
I like it but also wonder how weird everything is still going to get with college sports
I also like fat tire beer
I also like fat tire beer
I have no idea what the thread title means, OP.
Amazing! This is actually a great move by Barnhart!
Incorporate it and let's keep moving and staying ahead of the trend this is ground breaking stuff
You got to give Mitch props for letting go of the control.
I’m glad to see someone do something to try and leverage the fact we have more fan interest than a lot of our rivals all put together.
Our fans won’t give Mitch credit for anything because they have to always have a villain to hate. But this was a forward thinking decision. Kentucky is the first public university to do this. It’s gonna open up opportunities for athletes and it’s awesome for Kentucky.
Things are getting so stupid. Not knocking UK's forward thinking, but this is so weird. Just when you thought college sports couldn't get anymore 'not collegiate sports', now we don't even have an athletics department. We have an investment firm. Good grief.
This means the athletic department will now operate more like a business, while maintaining its connection to the university.
We’re going to speculate in real estate and God knows what else in order to generate money to pay athletes. What could possibly go wrong?
I really don’t understand this at all. Great move by Barnhart????
They are hiring an LLC to manage the sports program. Then WTF we need an athletic director for??? Isn’t that his job???? Fire Mitch then.
Just burn it all down. When there's nothing representing sports anymore, the athletes will just shrug and run off to find another hobby, leaving destruction in their wake.
chic at front desk:
"Center? ESFC Investment Group, third door down on the right"
"Kid from the Midwest? Mutual of Omaha, second hallway, last door on the left"
"Sharpshooter? Robinhood Investments, Take the elevator up to the second floor, kid's play area, third cottage back"
I guess this is what must be done to compete in the current environment. My only gripe is the corny name. Can’t we just call it UK Athletics LLC or something?
I know what ya mean, but sadly this is the best path forward IMO.
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If you want to compete you have to stay ahead of the trend ask converse shoes I am all for it . The should keep all of our major sports programs competitive
Oh he aint letting go. Its quite the opposite. The ad will be more powerful than ever. He will essentially be the ceo of a valuable privately held company without any board members.
The next move is to sell of shares of this company in return for cash infusion. Hes going to be courted like never before. If he's smart, this can be done well with dome aggressive negotiating and approaches. If he's lazy, we will get more jmi type deals that just screws everyone while making his job a piece of cake.
We will know soon which direction hes going. He isn't exactly known for tough negotiating, so we will see.
I’m assuming this will be a “for profit” entity therefore subject to taxation.
Perhaps not.
Perhaps not.
Very doubtful. The uk hospital is a nonprofit and mitch specifically mentioned that corporate formation in the quote. I doubt thats the only reason he mentioned it, but sounds like theyre following that path.
They aren’t hiring an LLC. They’re shifting the athletics department to a new legal entity.
For other schools that have organizations like Beyond Blue Corporation already in place, I would not be surprised to them follow UK’s lead on this (I’m assuming that Champions Blue LLC would roll up under Beyond Blue Corp, though I’ve not read any of the details).
So what are the primary benefits?
Protection of the NIL money from being considered university funds?
Therefore protection fm courts or ncaa and USG?
Tax implications?
Well, Mitch was about two years behind most others on NIL so it's good to see him get out in front on this. If his NIL plan was to dry up the money to get Cal outta here, then kudos. But he also wrecked the momentum with football and us getting behind others because he was slow to come around to it.
I'm kinda neutral to Mitch overall. I think he's been a solid AD even though he has some awful hires, which will happen to most AD's over the course of ~25 years. He's also had some great hires. He had the vision to hire Pope even though I didn't initially agree with it but that is looking like a homerun more and more.
I'm not even a drinker but I didn't agree with the no alcohol rule in general seating even though the suites had them.
Overall, solid B grade from me.
I'm kinda neutral to Mitch overall. I think he's been a solid AD even though he has some awful hires, which will happen to most AD's over the course of ~25 years. He's also had some great hires. He had the vision to hire Pope even though I didn't initially agree with it but that is looking like a homerun more and more.
I'm not even a drinker but I didn't agree with the no alcohol rule in general seating even though the suites had them.
Overall, solid B grade from me.
Kentucky expects it will cost them about $50 million more every year, with the money going to player salaries, larger scholarships, and other athlete support. By establishing Champions Blue, Kentucky can move more quickly, raise additional funds, conduct business deals (such as real estate and sponsorships), and safeguard the academic side of the university from financial issues related to athletics.
College sports has officially become so complex that I’ve no idea of what it’s all about.
Are these players actually going to be enrolled in classes or simply employees of this athletic LLC?
Are these players actually going to be enrolled in classes or simply employees of this athletic LLC?