PSU, UCLA: Partnership with Elevate doesn't include private equity funding

June 9, 2025

By Carter Bahns, CBS Sports: Athletic directors at Penn State and UCLA have denied their schools are involved in private equity funding, even as last week’s landmark House v. NCAA settlement opened the door for private equity to enter the college sports universe.

Pat Kraft (Penn State) and Martin Jarmond (UCLA) told Yahoo Sports’ Ross Dellenger that partnerships with sports consulting firm Elevate do not include private capital. This, in response a report from Sportico that the Big Ten members became debut partners in Elevate’s new $500 million program to fund college athletic departments.

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Penn State, UCLA athletic directors deny involvement with private equity funding amid House v. NCAA settlement

The Big Ten schools were reported to have reached landmark agreements with consulting firm Elevate

CBSSports.com

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