Greg Sankey, always looking to prove he’s the smartest guy in the room, was waxing poetic about private equity at the SEC meetings this week and dropped this number ($$):
“I’ve been interested in some of these league ideas that are generated out of Manhattan, as I see it, never mention academics in their pitch deck,” Sankey said. “It’s fascinating to me. Never once say anything about a young person’s education. Not a lot of evaluation from who benefits from this participation. About the level of control that’s ceded by public universities to private equity.”
See, guys, you’re just doing it wrong. As long as you say you’re doing it for the kids, then you can give us the money we want to be able to keep the golden goose alive.
The real problem is they are having a hard time figuring out how to keep their multi million dollar salaries (Commissioners, AD’s & coaches) with that back payment and proposal for 20 Million payments to the kids per year going forward. They still want Uncle Sugar to rescue them. It’s not going to happen. Title IX is going to be the thing that will just get them in more litigation and we know that’s not going to end well.