Montana State made it all the way to the championship game of the FCS playoffs last season and the school lost tens of thousands of dollars in the process.

In fact, officials say, most of the 24 teams that go to the playoffs lose money or break even.

That’s just wrong, Big Sky Conference Commissioner Tom Wistrcill said, and it is among the reasons Football Championship Subdivision commissioners are exploring a proposal from a private equity firm that could turn the FCS playoffs into a money-maker for the schools.

“I’m very open to the suggestion because it’s a new day and we have to figure out new ways to generate revenue,” Wistrcill told The Associated Press. “We’re sharing revenue with our student-athletes now, so that leads us to a place where we’ve got to find new revenue streams. I

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