Florida State taps JPMorgan for equity raise as ACC decision looms

By AuEben Novy-Williams, Kurt Badenhausen, Scott Soshnick, Sportico: Florida State University is working with JPMorgan Chase to explore how the school’s athletic department could raise capital from institutional funds, such as private equity, according to multiple people familiar with the plans.

PE giant Sixth Street is in advanced talks to lead a possible investment, said the people, who were granted anonymity because the specifics are private. Institutional money has poured into professional sports in recent years, from the NBA and global soccer to F1 and golf, but this would break new ground by entering the multibillion-dollar world of college athletic departments.

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Florida State Taps JPMorgan for Equity Raise as ACC Decision Looms

Florida State is working with JPMorgan to explore how its athletic department, facing a $30M revenue gap, could raise capital via private equity.

Sportico.com

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