The University of Utah has become the first college athletics program to usher in private equity.

The institution has secured a deal that will result in an additional $500 million being deposited into its coffers.

Ross Dellenger of Yahoo Sports first reported that the Utes were on the verge of a partnership with an equity firm that would see them bank the aforementioned amount, though not limited to it.

“The new venture is expected to generate as much or more than $500 million in capital — a groundbreaking and innovative move that may pave the way for more schools and conferences to pursue such a concept,” Dellenger writes.

Dellenger noted that the University of Utah Board of Trustees would finalize the project this week, which would allow the school to move forward in partners

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