UCLA, Penn St first partners in Elevate’s $500M College Investment Initiative

June 9, 2025

By Eben Novy-Williams, Scott Soshnick, Daniel Libit, Sportico: Penn State and UCLA have become the inaugural partners in Elevate’s newly unveiled $500 million College Investment Initiative, according to three individuals familiar with the situation.

Accordingly, the two Big Ten institutions have emerged as the first known universities to formally embrace private capital as a means of funding their athletic departments—signaling a significant milestone in the growing convergence of institutional capital and intercollegiate athletics.

Elevate formally introduced its college sports fund on Monday, revealing that two universities had already committed, but withholding their names.

Read the full story…

Penn State, UCLA Deny Deals With Elevate’s New College Sports Fund

The Big Ten schools have existing ticketing relationships with Elevate but say they are not part of its PE-backed College Investment Initiative.

Sportico.com

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