The UCLA and Pen State on Monday denied a report by Sportso that they have participated with the consulting firm Eleweight to get funding from their $ 500 million college investment initiative.
Elevet formally announced the first initiative on Monday and told news outlets that two schools had signed with the project.
However, UCLA and Pen State officials denied reporting each sportico that they were associated with the new funds. Both schools said that they are participating with height for ticket operations, but not for private equity.
The college investment initiative is supported by Velocity Capital Management and Texas Permanent School Fund. The idea behind the initiative is to offer capital to schools for revenue-generating projects-such as Nill platform or athletic site upgrade.
Bois State Athletic Director Jermia Dicky told front office sports that his university is “actively” considering private equity and expects a deal within the next six months.
-Bield level media
