Overview
- The University of Utah and its foundation signed the deal with New York firm Otro Capital on Friday, June 12, 2026, and said the new company will begin operations on July 1.
- Crimson Brand Partners will run commercial functions such as stadium events, ticketing, sponsorships, licensing and digital media while coaching, recruiting, student‑athlete support and facilities remain under university control.
- The university’s foundation will hold a majority stake and Otro will be a minority owner with board seats and an exit window reported at roughly five to seven years.
- Financial terms were not disclosed by the school, though reporting has estimated Otro’s commitment at least $100 million with other outlets citing figures as high as about $500 million.
- The move follows cost pressures from new 2025 revenue‑sharing rules and recent layoffs in Utah’s athletics department, with about 15 current staff slated to move into the new company as it scales toward roughly 70 employees.