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The University of Utah finalized a partnership agreement with New York-based private equity firm Otro Capital over a month ago.
The deal, which took years to construct, gives the Utes athletic department a much-needed lifeline to operate a healthier business.
However, the terms of the deal have still not been made public.
Why though? The answer isn't complex.
Utah is trying to uphold their end of the bargain.
To fulfill that obligation, many of the details would likely be made available despite Utah being a public entity.
Well definitely talk about it, Utah Athletic Director Mark Harlan said via the Salt Lake Tribune.
It is a private company, and so we have to honor the terms of the deal.
There were initial reports Otro Capital was infusing $500 million into Utah's overall portfolio.
But neither of the parties involved have confirmed those details.
What's important to remember is the U.s deal with Otro Capital involved the creation of a private company, Crimson Brand Partners, which will operate in conjunction with Utah's current athletic staff.
Crimson Brand Partners will be led by Matt Webb, who previously worked at the New Orleans Saints, Cleveland Browns and San Diego Padres.
Webb was recruited by Otro to lead the new venture.
What Crimson Brands has the opportunity to do is create a lasting impact on court and on the field, Webb told Sportico.
One of the biggest takeaways from this is that Otro Capital, by way of the CBP, would oversee operations in different avenues to help drive up revenue for Utah Athletics.
Harlan is chairman of the board and is a trusted figure who has Utah's best interest in mind.
All the revenue-generating components of athletics needed help, and Harlan, along with Utah president Taylor Randall, will dig deep to support that effort.
I think that one thing that we really can be transparent about is: What are they doing thats going to affect the fans? What changes are coming that theyre going to be doing? Harlan added.
Utah is working off pre-existing blueprints at a few levels of sports to create a better fan experience.
This isn't an overnight process and involves breaking down what can work better.
Now the pitches are different, Harlan said.
Now youre pitching to the big companies, the ones that have real money and want to create a really deep relationship.
Now [they] get to look around the campus and, yes, they get all the athletic assets if they want them, and so that process is underway.
While the entire contract details between Otro Capital and Utah won't be released, Harlan and Randall intend to stay in control of the University.
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