S.Amdt. 6820

Mr. Blumenthal submitted amendment SA 6820, titled keeping private equity out of intercollegiate sports. This amendment aims to add a new section to the bill to block private equity firms and foreign sovereign wealth funds from getting involved in college sports.

Key Details for the People

• Institutions, conferences, intercollegiate athletic associations, and collectives are prohibited from making agreements with private equity firms or foreign sovereign wealth funds that give them any ownership, profit, or revenue interest from intercollegiate sports programs.
• These entities are also banned from giving private equity firms or foreign sovereign wealth funds any approval rights, voting rights, or influence over sports decisions, branding, rules, schedules, personnel, or student athlete participation.
• Anyone alleging a violation can file a civil action in a United States district court or a State court.
• The rules apply starting on the date of enactment, though existing agreements entered into before enactment have a one-year grace period before the rules apply to them.