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Sen. Maria Cantwell warns Big Ten presidents of potential private equity deals
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- Sen. Maria Cantwell warns Big Ten presidents of potential private equity deals
Sen. Maria Cantwell of Washington has cautioned Big Ten presidents that a shift into private equity could lead to challenges for the universities. She urged them to proceed with caution in a letter sent Friday, Oct. 10.
Multiple reports indicate that the Big Ten may be negotiating to sell a stake in its athletic revenue stream to private investors, targeting a potential private capital investment of $2 billion.
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In a letter addressed to the Big Ten Presidents, Cantwell stated this potential deal "May be counter to your university's academic goals, may require the sale of university assets to a private investor, and may affect the tax-exempt purpose of those assets."
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