Report from Sportico:
The private equity talks were internally nicknamed “Project Osceola” — after the famous Seminole leader and FSU mascot — and they appear to center on the creation of a NewCo to house commercial rights from the school’s athletic department. That entity could then take on outside capital. This structure has become common for PE investments in sports, including Silver Lake’s backing of the New Zealand All Blacks rugby team and CVC’s financing of LaLiga, the top Spanish soccer league.
Sixth Street is still in active talks with Florida State about a possible investment, while Arctos is not, according to multiple people familiar with the negotiations. Representatives for Sixth Street and Arctos declined to comment. Representatives for JPMorgan and Florida State did not immediately respond to requests for comment.
www.sportico.com
The private equity talks were internally nicknamed “Project Osceola” — after the famous Seminole leader and FSU mascot — and they appear to center on the creation of a NewCo to house commercial rights from the school’s athletic department. That entity could then take on outside capital. This structure has become common for PE investments in sports, including Silver Lake’s backing of the New Zealand All Blacks rugby team and CVC’s financing of LaLiga, the top Spanish soccer league.
Sixth Street is still in active talks with Florida State about a possible investment, while Arctos is not, according to multiple people familiar with the negotiations. Representatives for Sixth Street and Arctos declined to comment. Representatives for JPMorgan and Florida State did not immediately respond to requests for comment.
FSU’s ‘Project Osceola’ Private Equity Push Began in 2022: Docs
Florida State University administrators spent much of the first half of 2023 speaking with at least two private equity firms, Sixth Street and Arctos Partners, about the possibility of providing mo…
www.sportico.com
