University of Utah Finalizes Landmark Private-Equity Partnership for Athletics

Backy Smith June 12, 2026 2 minutes read

The University of Utah has finalized a groundbreaking private-equity partnership aimed at strengthening the financial future of its athletics department, becoming one of the first major universities in the country to adopt such a model.

The partnership, first announced by the university’s Board of Trustees in December 2025, brings together the University of Utah and New York-based Otro Capital to form Crimson Brand Partners, a new company focused on expanding commercial opportunities and generating additional revenue for Utah Athletics.

University leaders said Crimson Brand Partners will oversee revenue-generating operations, including branding, licensing, sponsorships, ticket sales and events. Core athletics functions such as coaching, recruiting, scheduling, private fundraising and student-athlete support will remain under the university’s management.

“This new company puts the University of Utah at the forefront of developing creative and strategic solutions to the financial challenges facing college athletics programs across the country,” University of Utah President Taylor Randall said in a statement. “Utah will continue to lead with unique entrepreneurial ideas for keeping our Utes sports programs financially sustainable and foundational to the student experience.”

The move comes as colleges nationwide face increasing financial pressures driven by changes in athlete compensation, conference realignment and growing operational costs.

Crimson Brand Partners will be jointly led by Utah Athletics Director Mark Harlan and sports business executive Matt Webb, who brings more than two decades of experience working with professional sports franchises. Webb will serve as chief executive officer and oversee the company’s daily operations, while Harlan will chair its board.

According to university officials, the partnership is designed to enhance the Utah Athletics brand, create new revenue streams and improve the overall fan experience while reducing financial strain on the broader university budget.

“What Utah is standing up with Crimson Brand Partners will provide Utah Athletics with the resources to compete at the highest level and do it in a way that takes pressure off the rest of the university,” Webb said. “By growing the brand, increasing revenue and enhancing game-day experiences, we can help free up university resources for scholarships, research and students.”

University officials described the initiative as an innovative approach that could serve as a model for other institutions seeking long-term financial sustainability in college athletics.

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