UNLV head basketball coach Josh Pastner has put forth a proposition to sell the ownership of the UNLV Runnin' Rebels men's basketball team for $10 to $12 million. This move comes amid the ongoing integration of Name, Image, and Likeness (NIL) rules and revenue sharing within college sports, which is reshaping athletic programs nationwide.
Pastner stated that purchasing the UNLV team would be significantly less expensive than acquiring a professional sports franchise, such as a potential NBA team in Las Vegas, and would also offer substantial tax benefits. The UNLV athletic department has promoted the offer, highlighting the program's legacy, including a national championship and Final Four appearances, and its location in a growing sports market. Las Vegas is set to host the 2028 NCAA Men's Final Four and is anticipating an NBA franchise.
This proposition acknowledges the significant financial investments boosters are currently making in college athletics to attract and retain players. While third-party collectives have offered athletes equity in companies, the UNLV offer presents a different approach by providing a direct ownership stake in a college program. The exact implications of such ownership are not fully detailed, but it is understood to encompass perks such as courtside seats or luxury box access. Pastner suggested that direct input on team strategy from an 'owner' is unlikely, but the offer aims to tap into the desire for involvement and prestige among wealthy supporters.
Meanwhile, on Capitol Hill, a Senate panel is preparing to mark up legislation intended to regulate college sports amidst what some describe as 'chaos.' Former college football coach Nick Saban has criticized the current system for emphasizing financial gain over player development. Senator Cynthia Lummis, R-Wyo., has expressed concerns that smaller institutions may struggle to compete for talent against larger schools with more extensive donor networks.