I led the Big 10’s $2.4 billion public-capital venture. Here’s what college sports needs next

Last fall, a $2.4 billion investment from the Big Ten Conference in a public pension fund was poised to be one of the largest deals in sports history. However, it ultimately fell through after facing opposition from Congress and university trustees. The deal aimed to provide schools with the necessary capital to compete at a professional level.

That same fall, Lane Kiffin abruptly left his position at Ole Miss just weeks before their first playoff game, accepting a lucrative offer from LSU. As the new season began, the transfer portal saw former players from the previous year sign with new teams, and Coach Kiffin's actions have further strained LSU's relationship with its conference.

Administrators are now grappling with lawsuits, seeking lifelines and assigning blame. The sports industry clearly faces a crisis, but many are misguided about the root cause. The troubles don't stem from a lack of funds or regulations; they arise from universities' inability to effectively manage their most valuable assets. Until universities learn how to run their valuable franchises, the ongoing turmoil in college sports is unlikely to subside.

Congress attempted to address the issue with the Protect College Sports Act, which aims to regulate athlete pay and transfers, and allow power conferences to collaborate on media rights. However, this legislation will not change the fundamental cost structure of college football, which is now on par with the NBA and NFL. To adapt to the evolving market, universities must invest in areas traditionally neglected, such as player development, data analytics, and sports science.

These investments are already being prioritized by professional sports teams, which have successfully utilized innovative strategies to gain a competitive edge. College programs, on the other hand, continue to rely on outdated methods that no longer suffice. The situation highlights the need for universities to adopt a more modern approach to athletics, similar to those employed by professional sports organizations.

This includes building strong networks of high school coaches and investing in comprehensive infrastructure to support their athletes. The future of college sports will depend on the decisions made by university leaders, who must adapt to the changing landscape and embrace new strategies to remain competitive.