North Carolina general manager Michael Lombardi traveled to Saudi Arabia before the season to seek potential investment from the country’s Public Investment Fund, according to The Athletic.

The university was unaware of the visit, which came “at the invitation of the Saudis,” UNC vice chancellor for communications Dean Stoyer told the outlet .

No agreement came from the visit, which Stoyer characterized as an “exploratory fundraising trip,” and was paid for by the Saudi government, not using school or athletic funds. 4

Among its estimated $925 billion in holdings, the PIF owns the LIV Golf tour and the Premier League’s Newcastle United F.C., along with partnerships with the WTA and ATP tennis tours. It has also organized Formula 1 events. The fund also has a stake in Electro

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