NIL
Morning Buzz

Start your morning with Buzzcast with Joe Lemire: Private equity reaches college sports; WBD to split its media business; MLB’s marketing of top prospects

All eight members of the new Pac-12 “have signed their Grant of Rights and membership agreements,” a “signal that the league is finalizing a new media rights package that is expected in the coming days,” according to sources. Sources said the media rights package is “expected to feature as many as four different partners.” The package “paves the way for the league to formally offer invitations to expansion targets.” The conference “needs one full-time, FB-playing member” to reach the FBS minimum requirement (X, 6/9). It’s been more than eight months since Memphis declined an invitation to join the Pac-12. In September 2024, Memphis AD Ed Scott said the Pac-12’s offer did not make sense. He added at the time, however, that Memphis’ rejection “did not necessarily close the door on exploring potential future negotiations with the Pac-12” (Memphis COMMERCIAL APPEAL, 6/9).

As part of its 2026 schedule release, F1 overnight confirmed that the Canada Grand Prix will be held on the same day as the 110th running of the Indianapolis 500 next year, May 24, with Montreal now following Miami on the F1 calendar to improve the series’ sustainability efforts. The move was originally telegraphed by F1 last fall, when it announced that Monaco would move to early June from its traditional slot on Memorial Day Weekend to late May, in order to optimize the schedule. Under pressure from European regulators and environmental-minded groups and entities, the globe-trotting F1 has faced scrutiny in recent years for not having a more logical calendar with respect to how often it travels to different continents each season, and stated that it was working to optimize the slate. This change will allow F1 to cut out a cross-continental trip from Europe to North America every year. The race promoter for Canada is Octane Racing Group, while several municipalities in the country and in Quebec also support the Grand Prix. At the time when it announced that Canadian entities had agreed to move the date to May last year, F1 said the race would now take place on the third or fourth weekend of May every year. However, the third weekend is typically when the national holiday of Victoria Day is held, and F1 has now decided on the fourth weekend, setting up a potentially more direct clash with IndyCar’s Indy 500. While F1 and IndyCar have long both run races on Memorial Day Sunday, F1’s race has long been at Monaco, which ran its event several hours earlier than the 500 due to being in the Central European time zone. The Indy 500 this year started at 12:45pm ET, while Sunday’s Canada Grand Prix is at 2pm ET. F1 CEO Stefano Domenicali said in a statement: “2026 will be a new era for Formula 1 where we will witness a brand-new set of regulations for our sport, the cars and the engines that will be powered by 100% sustainable fuel. We are excited to welcome Madrid to the calendar, and to see huge automotive brands like Audi, Cadillac and Ford join the Formula 1 grid.”
Jomboy Meida founder Jimmy O’Brien (left) and partner Jake Storiale (right) have added MLB as a minority investor in their digital outlet. Courtesy of Jomboy Media MLB has become a minority investor in digital outlet Jomboy Media as part of a strategic partnership deal. Key deal points include the integration of Jomboy Media’s expertise across MLB’s digital channels, the creation of activations around MLB tentpole events (All-Star Game, Home Run Derby), and the growth of Jomboy Media’s cache of intellectual property. Jomboy Media will also have access to MLB and Club IP, which will be integrated across new apparel and home goods, and sold through the outlet’s direct-to-consumer retail site and other distribution channels. “It’s been years in the making, and it just felt like the right time. We’ve been talking about this since last July,” Jomboy Media CEO Courtney Hirsch said. “Nothing’s changing from a content or creative perspective, which is really important for us. They’re really going to let us continue to do our thing and provide more access to IP and events and support in the sponsorship front. It all kind of makes sense right now.” Read More >>>

The “years-long saga over the fate of Hulu is officially resolved,” with Disney set to pay Comcast $439M to “finally complete the sale of its 33 percent stake in the streaming service.” In 2023, Disney officially agreed to “pay a floor” of $8.61B for Comcast’s stake in Hulu, but the companies “couldn’t agree on a final valuation for the stake, leading to an extended appraisal process.” Comcast “argued that Hulu’s value was higher, and that Disney should pay it an additional” $5B. However, the final price was “clearly much closer to Disney’s valuation than Comcast’s.” While Disney was “able to take operational control of Hulu as it sorted out the value of Comcast’s stake, the completion of the deal will give the company more leeway to more fully integrate Hulu into its streaming offerings.” Disney says that the “full acquisition of Hulu will be completed by July 24, 2025” (HOLLYWOOD REPORTER, 6/9).

Texas’ dominating win over Texas Tech in the deciding Game 3 of the Women’s College World Series delivered the most-watched NCAA softball game on record.
ESPN/ESPNU drew 2.4 million viewers on Friday night for the clincher, which delivered a record even after Texas jumped out to a 5-0 lead in the first inning en route to a 12-4 win. Texas-Texas Tech tops the prior NCAA softball record of 2.33 million viewers for Game 3 of the Arizona-Tennessee WCWS in 2007.
The game on Friday peaked at 2.7 million viewers. Texas-Texas Tech also had head-to-head competition from Panthers-Oilers Stanley Cup Final Game 2 on TNT/truTV, which averaged more viewers (2.5 million).
On Thursday, Texas-Texas Tech also set a Game 2 WCWS record audience with 2.1 million viewers, while Wednesday night was a Game 1 record with the same audience.

The new PWHL franchises in Vancouver and Seattle “each drafted seven players, plucked from the PWHL’s inaugural six teams,” in the league’s first-ever expansion draft Monday night, “helping the expansion clubs take shape before they join the league for its third season this fall.” Ottawa Charge D Ashton Bell was taken first overall by Vancouver, while Seattle used the second pick on Charge D Aneta Tejralová. The league used a “snake-style draft,” and Vancouver “won a lottery-ball draw” and chose between “making the No. 1 pick, or both No. 2 and 3.” Monday’s expansion draft was the “second phase for the two new teams to build their rosters.” The “next chance” for PWHL teams to add talent will be entry draft on June 24 (GLOBE & MAIL, 6/9).

The expansion Denver NWSL team “broke ground in Centennial for the construction of its performance center and temporary stadium” on Monday. Denver NWSL is expected to begin the 2026 season “playing in a 12,000-seat venue located just north of Broncos headquarters near Dove Valley.” The team’s performance center “will be constructed adjacent to the stadium.” Denver NWSL owner Rob Cohen “joined team and local officials to break ground on the site” (Denver GAZETTE, 6/9). Cohen was joined at the site by Denver NWSL President Jen Miller, Centennial Mayor Stephanie Piko, Cherry Creek School District Superintendent Chris Smith and Haselden Construction CEO and President Byron Haselden (9NEWS, 6/9).

The Yerba Madre beverage brand (known until recently as Guayaki Yerba Mate) has signed on as a sponsor of the 2025 Concacaf Gold Cup, which will be played in the U.S. and Canada from June 14-July 7. Financial terms of the deal were not disclosed, but a Yerba Madre spokesperson said the deal is the brand’s largest sponsorship agreement to date. The brand’s other partners include LAFC, NWSL club Angel City and USL League Two club Vermont Green FC. Soccer United Marketing brokered the deal on behalf of Concacaf. As a Gold Cup sponsor, Yerba Madre will receive in-stadium exposure during extra time on substitution boards, stadium videoboards and live PA announcements. The brand will also activate on-site and offer its yellow beverage cans in VIP suites. 
The Univ. of Utah is set to announce a deal with Paciolan around ticketing, fundraising, marketing and data solutions. getty images The Univ. of Utah is set to announce a deal with Paciolan, a Learfield subsidiary, around ticketing, fundraising, marketing and data solutions, sources tell Sports Business Journal. Financial terms of the deal were not disclosed.The school currently utilizes Sidearm Sports (Also a Learfield arm), allowing for easy integration of Paciolan’s ticketing platform. Utah previously announced a decade-long deal with JMI Sports to handle its multimedia rights in May 2024.

The goal horn at Amerant Bank Arena reportedly “shorted out sometime on Monday and could not be repaired in time” for Game 3 of the Stanley Cup Final Monday night. The Panthers “usually set off the horn when the team hits the ice before the game” and after they score a goal. But on Monday, a “host of electricians were working on the problem throughout the first period and intermission.” The team “does have a recording of a goal horn but, at least in the opening period, declined to use it.” The Panthers then “used the recording of the horn to welcome the team onto the ice” to start the second period — and when Sam Reinhart and Sam Bennett scored later in the period to make it 4-1 (FLORIDA HOCKEY NOW, 6/9).

In this episode of On Stage, NBA Commissioner Adam Silver joins ESPN and ABC analyst Bob Myers for a candid, in-depth conversation recorded live on April 22, 2025, at the CAA World Congress of Sports, presented by Sports Business Journal.
Silver, one of the most influential figures in global sports, shares his perspectives on the challenges and opportunities shaping the NBA’s future. Myers — who served as GM of the Warriors, leading them to four NBA championships and earning two NBA Executive of the Year honors — brings a unique perspective from the front office to the broadcast booth.
They cover:
* Media Rights & Broadcasting: Silver discusses how local NBA games are “trapped” by outdated cable deals and the future of direct-to-consumer viewing as the league looks to unlock new digital revenue streams.

SBJ takes a quick spin around Oakmont Country Club ahead of U.S. Open week, from the USGA’s “Fan Central” to the tournament’s expansive merchandise pavilion featuring more than 500,000 items.
Speed Reads…
The A’s “will celebrate the groundbreaking” of their $1.75B, 33,000-fan capacity ballpark at 11am ET on June 23, “on a portion of the 35-acre former Tropicana hotel site” where the ballpark will be located (LAS VEGAS REVIEW-JOURNAL, 6/9).
Ole Miss football has “sold out its 2025 season tickets” for the second straight season. The school said it’s the eighth sellout in modern program history (Mississippi CLARION LEDGER, 6/9).
The city of S.F. is “set to welcome its first women’s sports bar.” Rikki’s co-founders Danniele Thoe and Sara Yergovichsaid that their sports bar will “officially open its doors on Wednesday” (S.F. CHRONICLE, 6/8).
Quick Hits…
“This is a conversation that could also be important for the next (Collective Bargaining Agreement). Cathy added a lot of games, and for us as players, recovery is so important. We put our bodies on the line every single time. We had nine games in 18 days. That’s not really responsible for a commissioner” — Mercury F Satou Sabally, on the impact of the WNBA’s expanded schedule on the team (ARIZONA REPUBLIC, 6/9).
Morning Hot Reads: Necessary Evil
USA TODAY went with the header, “The NBA Finals court logo fiasco proves bullying works sometimes.” Let me say this: “99 percent of the time, I am not here for bullying.” But “let’s be real, folks,” there’s “that ONE PERCENT of the time when bullying is not only good, but also necessary.” Maybe that’s “a little crass, but I’m just being honest.” Sometimes, “some people need to be bullied out of the bad decisions that they’re making.” That was Adam Silver and the NBA last week, when the league added digital NBA Finals logos to the court for Game 2 between the Thunder and Pacers.
Also:
Social Scoop…
It’s believed Texas Tech will pay its players $55 million (revenue sharing + NIL) among all its programs this year, making the Red Raiders perhaps the highest-paying college athletics program in the country, sources tell @CBSSports. https://t.co/Kw7KdwJCzA
— Brandon Marcello (@bmarcello) June 9, 2025
US Open Diaries (Monday)
I got into Pittsburgh earlier this morning and made the drive to Oakmont, practiced a little bit and played the front nine today. My thoughts… pic.twitter.com/pbtV9sJ0CV
— Michael S. Kim (@Mike_kim714) June 9, 2025
NHL commissioner Gary Bettman calls Paul Bissonnette’s concern about the NHL & Florida’s lack of state tax “ridiculous.”
Bettman adds, “I was watching you during the prior rounds. Your attire was a little suspect in terms of your journalistic objectivity.” 🏒🎙️#NHL #StanleyCup https://t.co/eLmLyNCi2c pic.twitter.com/25Tuu8gKnm
— Awful Announcing (@awfulannouncing) June 9, 2025
Murray St. making it to Omaha is one of the best stories in college sports. This is their stadium it holds 800 people. Their head coach Dan Skirka literally cuts the grass.
Gotta feel good for those guys. pic.twitter.com/YEOPmvHIuj
— Griffin S. DeMarrais (@GDeMarraisTV) June 10, 2025
Roman Anthony didn’t mind rushing over from Worcester to Boston for his last second call-up:
“It was great, there wasn’t too much traffic….Obviously a little bit of a short notice, but better than being on the bus to Lehigh Valley right now.”@WEEI @SoxBooth #RedSox pic.twitter.com/yPNlDVRCaV
— Tom Carroll (@yaboiTCfresh) June 9, 2025
“This title of a Hollywood blockbuster is a national symbol of Gabon.”
Off the presses…
The Morning Buzz offers today’s back pages and sports covers from some of North America’s major metropolitan newspapers:
Final Jeopardy…
“What is ‘Black Panther’?”
NIL
College football program loses 25 players to transfer portal
Oklahoma State’s 2025 season ended amid results and roster turnover that point to a program undergoing significant change.
The Cowboys finished 1-11 overall and 0-9 in Big 12 play, with an offense that struggled all season and a defense that failed to stop opponents.
The offense was led by freshman quarterback Zane Flores (1,450 passing yards, three touchdowns, seven interceptions), running back Rodney Fields Jr. (614 rushing yards, one TD), and wide receiver Gavin Freeman (481 receiving yards, four TDs).
Unfortunately, Flores has since declared his intention to leave the program.
On Monday, Flores officially announced plans to enter the NCAA Transfer Portal, becoming the latest Cowboy to depart and, according to local trackers, the 25th Oklahoma State player to enter the portal this cycle.
NEW: Oklahoma State QB Zane Flores plans on entering the NCAA Transfer Portal, @PeteNakos reportshttps://t.co/kNsiLKOWCK pic.twitter.com/dG0uBaCweF
— Transfer Portal (@TransferPortal) December 15, 2025
Some of the bigger names who also plan to leave include sophomore wide receiver Shamar Rigby, sophomore offensive tackle Grant Seagren, and tight ends Grayson Brousseau (freshman) and Josh Ford (sophomore), alongside a handful of young defensive backs, linemen, edge rushers, and receivers.
Rigby (the team’s third-leading receiver with 351 yards), Ford, and Seagren stand out as notable losses, as each was a regular starter and a highly touted three-star recruit.
Flores remains the most significant departure, however, as Oklahoma State’s starting quarterback and the No. 27-ranked quarterback in the 2023 class.

The season’s early turning point came on September 23, when Oklahoma State fired longtime head coach Mike Gundy after a 1-2 start.
Gundy had led the Cowboys for 21 seasons, compiling a 170–90 record and guiding the program to 18 consecutive bowl appearances.
Offensive coordinator Doug Meacham was named interim head coach, and the school later hired North Texas’ Eric Morris as its next head coach on November 25.
The coaching upheaval, Gundy’s dismissal, an interim stretch, and then a new hire set the backdrop for a midseason portal window and, ultimately, heavy roster attrition.
Read More at College Football HQ
- Former SEC quarterback enters college football transfer portal
- Legendary college football coach retires 42 years after first job
- Historic college football programs surging for nation’s No. 1 running back
- Jim Harbaugh issues statement on Sherrone Moore’s firing from Michigan
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Kentucky AD explains NIL, JMI partnership and cap rules
Recent claims that JMI Sports is prohibiting University of Kentucky athletes from entering into NIL deals with competitors to the school’s corporate partners are false, according to athletic director Mitch Barnhart.
Yes, as part of the agreements signed by UK athletes for revenue-sharing payments from the school, athletes are prohibited from using university logos, facilities and other trademarks in any endorsements for businesses that are not affiliated with JMI and UK. However, athletes are still permitted to sign their own endorsement deals with other companies as long as they do not wear UK gear in the advertisements, UK athletic director Mitch Barnhart told the Herald-Leader in a one-on-one interview Tuesday.
JMI’s role in UK’s NIL setup has come under fire in recent weeks, sparked in large part by a story from Kentucky Sports Radio that cited anonymous sources who attributed the men’s basketball program’s failure to sign any 2026 high school recruits so far at least in part to JMI limiting UK athletes to deals with its existing advertising partners.
UK announced in August that JMI, its multimedia marketing rights partner since 2014, was taking over NIL operations previously managed by collectives outside the athletic department in the form of a fan subscription service called BBNUnited as part of an extension to its partnership that would run through 2040.
Comparing JMI’s role to the previous function of the outside collectives is not simple due to a series of rule changes brought about by the NCAA’s House settlement, which went into effect July 1. Now, schools are allowed to distribute up to $20.5 million directly to athletes, but NIL contracts must be approved by a third-party clearinghouse called NIL Go, which ensures the deals are for legitimate business purposes and are for fair market value. Prior to the House settlement, NIL collectives across the country had essentially operated as pay-for-play entities which guaranteed top athletes massive contracts in exchange for little-to-no actual endorsement activities.
Barnhart was on the NCAA committee tasked with implementing the specifics of the House settlement and has insisted that UK will operate within those guidelines, even as other schools have pushed back against the restrictions and some pundits have speculated those restrictions will not stand up to future legal challenges without federal legislation codifying them.
Barnhart appeared on the Wildcat basketball pregame show Saturday to respond to some of the criticism of UK’s NIL setup and the JMI deal. In a 30-minute interview with the Herald-Leader three days later, he addressed JMI’s role in negotiating athlete NIL deals, the department’s secrecy about its revenue-sharing split, whether the men’s basketball program needs a general manager, rumors he is considering retiring next year and more.
You can read an excerpt from the Q&A below. Questions have been slightly edited for clarity and brevity.
HL: Not every conference has agreed to this College Sports Commission’s enforcement agreement, so it feels like people are operating by different sets of rules right now. How do you approach that in this NIL space at the moment?
Barnhart: “I think that there’s about three or four different avenues of things going on, conversations going on, which I think are confusing to people. One, you have the conversation, what was done prior to July 1. Then you have the post-July 1 and the beginning of the College Sports Commission and NIL Go and the cap space. All of those things have come together. Different schools have got more room in their cap space based upon all of those factors. And so I think that’s where the confusion lies on a lot of people’s parts. The participation agreement would ensure that everyone is agreeing to the principles of the College Sports Commission.
“I was on a call today and felt like progress has been made. I think everybody wants to get there. There’s some state laws and some legalese that has slowed that progress. There is, I would say, hope that something will happen after the first of the year, and then we’ll get to bring that all together. Until it does that, there are rules that I think everyone can agree to, and there’s a process for those rules that they have to go through the court, and they also have to go through a couple of attorney generals. And have a 30-day period that they have to go before the plaintiffs (in the House settlement) and the 30-day period before the attorney generals before all those can be implemented. Some of those have been implemented, and we could all agree on those. Others are sort of working their way through the process. The combination of the participation agreement, getting some of those rules vetted and getting them on the books has — probably the word would be clunky — made it a little bit clunky here at the beginning of everything.
“But, I think that progress is being made, and I think people care, and they’re trying to stay within guardrails to move it down the path. But again, when you hear conversations publicly about different people doing different things, it gets confusing, and for many frustrating. That’s where I think it’s hard for a fan to sit here and say, ‘Well, why they get to do that and we don’t?’ or ‘They’re doing something completely different than we’re doing it.’ And so I think we’re trying to be steady in our approach. We think that we’re within the guardrails of what they’ve given us, and we think we’ve got a good plan. We’re just going to keep working at it from that perspective.”
HL: Of the schools who have kept their NIL collectives outside the department, do you feel like there are people still operating in the pre-July 1 landscape?
Barnhart: “No, I think everybody’s trying to get to the spot where everyone’s working through the NILGo system. We’ve all agreed that that’s where we’re going to head. And I mean, deals are going through there, and all schools are putting their deals in there. We’ve had, again, several hundred deals go through, and we’re well into seven figures of deals that have been approved for our student-athletes. Other places are doing the same thing. … Obviously getting the NILGo was very difficult, to get that up and running. That was a major undertaking, and so to get to the rhythm of how that works has not been easy for everybody. I mean, that is a complete transition in how that works. And I think that people are getting into the rhythm of how that works and how they’re able now to activate sponsorships and activate deliverables for people. And is it within the range of compensation, and is there a valid business purpose to it? I think that is the thing that has made it. I would say one of the better parts: Is there valid business purpose to what is being done? And then it gives it some direction. So, I think we’re making progress there. And feel that obviously, as the College Sports Commission gets their staff up and running and they get more people involved in their staffing … that will be certainly helpful.”
HL: Are the numbers you cited at the October Champions Blue meeting ($3,000 average per NILGo-approved deal with a maximum around $50,000) still accurate for UK athletes?
Barnhart: “Yeah, I think we’re trending in the same way. I think that some of our student-athletes are certainly starting to think, ‘Hey, there’s some things that we can do, and there’s value there.’ As you’ve watched our volleyball team play, their visibility and their notoriety in our community has certainly expanded. And that’s expanded their reach, and you’ve seen that. You can call it ‘hot market,’ whatever you want to call it. I think there’s value in that, and we want to help them maximize that. I think we’ve got opportunities to do that at a really high level, and our people are excited about that. It’s pretty cool to watch it all transpire, to be honest with you. I enjoy watching our young people have success at that.”
HL: As we talk about the JMI part of this, what do you view as the advantages of this setup?
Barnhart: “First off, JMI has got over 200 partners, so we come with a ready war chest of people that are ready to access, have never had access before to have our student-athletes work with them. So, we got 200 people that are involved at JMI. They’ve got a sales force that is fully ready to go to help. They are activating dollars that are above our advertising revenues for those young people, and they’re ready to put those in place for those that have a fit. And you have to have the right fit and all of that. … So, it’s got to be right person, right company, and you put those in the right fit. But I think that the beauty of having a qualified, active sales force with 200 partners that are very, very interested in your program, and with student-athletes that have success and that are very marketable — I think the thing that people lose sight of is we’ve got a really wonderful set of student-athletes that you might want to align yourself with. And I think it’s a really cool thing.
“And so, I think that’s where JMI — they’re experts in their field. They have done everything from national deals to hot-market deals to local deals and everything in between. So they’ve shown they can do all those things. For athletes that have been here, they see that a little more clearly than people that are coming in new, especially from people outside the Kentucky market. There’s an education process. We’re working our way through all that, but, I mean, make no mistake about it, there’s no one that can come in with that kind of bandwidth from the outside. Just saying, ‘Hey, we’ve got a group of people that we’re gonna market ourselves to. Who’s gonna sell us, for us?’ (And JMI says), ‘Well, we do. We’re gonna go do that. We’re gonna make the match, and we’re gonna work at it pretty hard.’ And we’ve got, again, a very dedicated sales team, who, by the way, is doing an average of $35 to $40 million a year in revenues for their network in and of itself. So, they’re experts at doing that. It’s not like this is just, ‘Hey, we think that we’re going to try this sales thing for the first time.’ They’re experts at it.”
HL: When an athlete accepts revenue sharing money from UK, do they automatically get tied into the JMI deal, or do they opt into that separately?
Barnhart: “There’s some things that they’re opting into. OK, there’s some things they opt into, and obviously that’s a part of that process. And then there’s some things that we say, ‘Hey, does this fit you? Does this fit you? Do you want us to go out and find you (a deal)? Is there some things that make sense in a marketing piece, a partnership piece, so to speak, or a sponsorship piece?’ And if it doesn’t, you’ve got your own thing; you’re not prohibited from doing your own thing. We’ve shown that on many cases with student-athletes in our program. We’ve got student-athletes in our program that have got deals that are outside our partners, that they’ve gone and had an opportunity to go access and do those themselves. They just can’t use our IP marks in that process. Part of the ability to use the Kentucky marks, which we think is super valuable, is that relationship with JMI. So yes, that is part of that process. But to go do your own thing, you can certainly do that. That happens all the time on the pro sports scene. You see high-, high-level, elite-level professional athletes that go do an ad, and they do not use the marks of the team that they’re with in any way, shape or form. They may use the same colors, and you see that. You go, OK, I get it, the alignment. You know who it is, and the company’s saying, ‘We’re good, but we just don’t need to pay for the marks.’ OK, fine, then you can go do that, and you’re perfectly capable of doing that.”
HL: Say a company who is a competitor of one of your partnerships approaches an athlete, what is the process for them? Does JMI then go to your partner and say, ‘Here’s the deal?’
Barnhart: “The logistics, so generally the student-athlete or the representative is coming to us and saying, ‘Hey, we’ve got this deal we’d like to (do).’ OK, fine, that’s OK. We’d certainly prefer that you give our partners a chance first, and if that’s something that doesn’t work for you and you still want to go do this, then that is OK. You just can’t use the marks.”
HL: How is that different than before July 1, because the original NIL executive order from the governor said you could deny deals that were in competition with your partners? Was that an issue before?
Barnhart: “I don’t know that it was an issue beforehand. I just don’t think it was really clear. I don’t think it was really clear. The goal, clearly, is we’ve got some wonderful people that are aligned with the University of Kentucky. These people have given incredible resources to our program, and our hope — and our goal — would certainly be to align our young people with our partners. That makes all the sense in the world. Sometimes that’s not the way it works. I don’t want to lose sight of the fact that there are friendships. I can use Trent Noah as an example. Trent has got relationships from his hometown, areas that he wants to respect. Got it. Want him to be able to do those things, if that’s important to him, and it is. It’s important to him. We’ve got young people that have come with deals already from their days in high school, that they’ve come to our program with things that are already in place. OK, then we’ve made provisions for that and worked through that. It’s a conversation. JMI has been really good about working through each of those scenarios. It’s not always just super, super easy, ‘Hey, we’ll just sort of work our way through it,’ but we work our way through it and we get there. And they’ve been at the table with our coaches and with our athletic department representatives and the student-athletes and their representatives. So it’s been OK.”
HL: Have you had any athletes that were denied a deal because it was with a competitor?
Barnhart: “Not that I’m aware of.”
HL: Outside collectives were taking a percentage of the money they raised. What percentage does JMI take?
Barnhart: “JMI doesn’t take any percentage. No, there’s no fee. There’s no fee. We’re fee-free.”
HL: In the last week fans have raised concerns about relationships between your staff and the staff at JMI. Do you think those are a conflict of interest?
Barnhart: “It’s never been an issue once. We’ve had long-standing relationships at this university with a lot of people that get really, really close. Jim Host, Tom Stulz, Paul Archey — it’s a really cool family, and I think that’s what makes it special, not a conflict. If it was a conflict, I wonder how our revenues and everything that we’ve worked so hard to grow have grown at such an amazing pace? We got one of the top-five deals in the country, and to have an opportunity to work with that group in a long-standing relationship is really cool. It is really cool.
“Host was with us 30-plus years, and everyone was thankful for that, right? We’ve been with JMI 11 years now. Signed on for another six, which puts it 15 out, which gives you a 25-year deal. So, it’s been a little bit misrepresented as a 25-year deal. It’s not. It’s another 15. So, we get to that spot, we’ve got relationships and people that have got relationships from that sales staff in our community at a high, high level. That makes this thing special. The fact that I’ve got people on my staff and there’s people in this community, somewhere along the way there’s going to be connections, all right? And I do believe that we’ve kept those conversations as apart as we possibly could.
“There’s not one day that we go and say, ‘Hey, if we do this, we can connect dots.’ We haven’t done that. I feel very comfortable that the relationship we’ve got with, initially host, then IMG, then JMI, those relationships have been things that have continued because Kentucky is a special place and people want to work with us. We want to have long-term relationships with people that care about this place.”
HL: What role does JMI play in the facilities plans since they’re giving those briefings at the monthly Champions Blue meetings? Are they making those decisions?
Barnhart: “No, no. Erik Judson, in his previous days he did a lot of work with the Padres and the stadium and the multi-use district down there. He’s done that at other places all across the country. Erik’s got an expertise in that. He’s very well connected to the sports architecture world. So, using the connections that he has — and we’ve got our own, because we’ve done a lot of that with some of the very same people — making sure that we’re trying to find really cool connections and conversations to see what are the possibilities here. We got to find a way to expand our buckets of revenue. We’ve got five buckets. If you look at the five buckets, they’re really well-defined. It’s tickets, it’s fundraising, it’s major contracts. It is our concessions and souvenirs business, which is not massively big. And then our conference revenue sharing. Those are the five, and they haven’t changed for decades. It’s been the same five for decades. So what has to change going forward? We’ve got to find some new revenue streams that are bringing us some steady flows of money, that may be outside the normal of athletics. Maybe it’s an events operation that brings in more events that you might be familiar with, whether it’s another concert or two. Or maybe it’s some other things that we’re bringing to us that we have a chance to access more revenues. Maybe it’s that multi-use district where there’s money that comes off an alignment to our stadiums or to our facilities and those kind of things. There’s a lot of pieces that we’re looking to try and find new ways that doesn’t end up being on the backs of our fans. That it ends up being something that is sort of an add-on to our program. It gives us a chance to say, hey, this is how we grow a little bit without an arms race in the ticket pricing world or having to go raise more money, and those kind of things where it’s very difficult. That has become more difficult as years have gone by.”
HL: So we’ve talked a lot about the NIL part of this, but the revenue sharing is the other half of it. Obviously, you all are not alone in keeping those numbers close to the vest. What is the reason for the secrecy there, and do you think some of this speculation could be ended by just sharing the numbers?
Barnhart: “No, I think, to be honest with you, it’s not so much secrecy. It’s just flexibility. We want the flexibility to be able to work. I think there’s two pieces to it. You want to keep the rev share and the NIL conversation separate, because they are separate. I think people have confused those. ‘Hey, I’ve got a $30 million NIL.’ Really, $30 million in NIL? That’s fascinating to me, how you’re going to pick up 30 million in NIL. So, it’s probably so much in rev share and so much in NIL, because knowing what we know about the marketplace, there’s not a lot of places out there that are putting together $30 million in NIL, in straight NIL. OK, so that’s No. 1.
“No. 2, the ability to be flexible and move that back and forth and say, maybe we’re recruiting a player for a sport that is more marketable publicly, we can go to them and say, ‘Hey, we think you’re better served over (here). We’re going to guarantee this in the rev-share piece, but over here in the NIL space, we’re going to do a different kind over here. That’s going to be different. OK, we’re going to do that differently.’ Or maybe that there’s a year where basketball and football are different in terms of their needs. I’m paraphrasing; maybe you need a certain position in football that requires more assets, so you do that differently. And in basketball, you’re not in that same spot this year.
“If you’re both in the same spot, then we got a conversation we got to have, and we got to make sure that we’re aligned in all that. So to sit here and put us in a box on both sports and say, this is the box, I have both coaches going, ‘OK, I’ve got my box. How do I either get out of my box or how do I get more in my box?’ I want to make sure we’re thoughtful about that. I think it gives us the best flexibility in terms of recruiting and who we’re recruiting, how we’re recruiting, what they bring to the table. And gives us a chance to be super, super thoughtful about what we’re doing. It’s not trying to be cloak and dagger. That’s not the issue. I mean, not a lot of folks are giving their numbers out anyway, but at the end of the day, I think it does give us the best flexibility for our program. And then a little bit, it protects our student-athletes. Everybody wants the big number, what’s the number? What I don’t want to do is get it down where each kid, each of our young people, is going, ‘OK, well, they’ve pegged that person for that.’ I don’t want to do that for those young people.”
HL: So obviously, you all are in a unique situation where you have a profitable men’s basketball program and a profitable football program, which is not the case in a lot of places. But it’s also in this revenue-sharing conversation more difficult, because the perception outside at least is because basketball will get more here than at other places — because they make money here — that football will get less than at other places in the league. How do you handle that?
Barnhart: “Yeah, I think that’s the balancing act that we’ve worked really hard at. I think that prior to July 1, everyone was pleased, happy. Fascinated that we had both rosters, and everybody loved both our rosters. Going forward because of the way, pre-July 1 and post-July 1, look, it’s going to become more difficult for everyone. Not just a Kentucky. It’s going to be difficult for everyone. And if you don’t have a football program and you’ve got rev share that looks a little bit different, maybe the schools that are non-football playing schools, it looks a little different for them. And it can be different for them. So, it’s a dance, and we’re working our way through it. I’m thankful I’ve got two coaches that clearly understand. They’ve been great working with both of them, and so we’re just working our way through it. I think to the fan base, that’s the beauty of Kentucky basketball, is that the name, image, likeness, opportunities for Kentucky basketball are significant. If we’re working very closely, we use the strength of that brand to work for the betterment of our entire department. Not just football, not just basketball, but for our entire department. If we do that well, and we can get football where we want it to be, it builds the brand in total for everybody. And then baseball and women’s basketball and a volleyball program that is deserving, they all win, and we have a chance to raise the tide of all the boats, so to speak.”
HL: Because so much of the current academic year was funded pre-July 1, is this year’s revenue sharing budget mostly going towards funding the next group of transfers or incoming recruits?
Barnhart: “So, the problem you’ve got a little bit is because on one you got a fiscal-year budget, an academic-year budget, whatever you want to call it, and then you’ve got an athletic-year budget. So football sort of runs January to December, and basketball sort of runs July 1 to June 30. And so there are two different sort of years, and we’re trying to match those together. And so, we’ve got more cap space. We’re trying to fill our cap space, trying to make sure we’re maximizing our cap space really, really well. Again, it’s just being flexible and making sure that we’re being thoughtful about how we use our dollars. You’ve got to have a group of young people in football that are going out of your program on December 31, and a new group, some of them will be coming in in January, and some of them won’t come till June or July. We get that, and we have to figure out how that plays out. But a lot depends on how many people you bring in January and how many people are staying from your program, carrying over from this year’s roster. So, the retention, new freshmen, new junior college that come in January, and then that group that would come in July is football. Basketball would start again, sort of July 1 in that zone, and then play out until the next year.”
HL: Will Stein hired a general manager. There’s been a lot of talk about that in basketball. I know two weeks ago you said that we get too hung up on the titles, which I understand, but do you think the basketball program needs someone in that role, whatever you want to call it?
Barnhart: “I think that it’s really important that we’re flexible, again. I like the word flexibility. You’re gonna think ‘Mitch, you’re using that word too much.’ I’m not. I do believe that giving Mark (Pope) the flexibility of how he wants to operate is really, really important. There are both cases on both sides, where I’ve seen people that have said, ‘Hey, if I had to do it over again, I wouldn’t do it. I wouldn’t have a general manager because there’s too much separation.’ Other people want the separation. I think it depends on the personality of the coach, their ability to assess talent and their ability to have those conversations. Do they like that? Is it something comfortable for them? Uncomfortable for them? All of those pieces. Our talent assessment (in basketball) was fine until we lost a couple games, and then everybody started wondering about our talent assessment, correct, right? So that’s amazing to me, how that works.
“All of a sudden, now we win a few games — if we win a few games — the talent assessment was fine. OK, so let’s get real. So if that’s where Mark wants to be, and he thinks that’s something that fits him… it can change. Just because you’re in one spot doesn’t mean you can’t say, ‘Hey, you know what? I think maybe I could use a little help there, or maybe I’d like to change it up a little bit and do something a little bit different.’ OK, then let’s do that. We do have the ability to adjust. I think there’s a couple of really well-known coaches out there right now that are talking about how they built their programs, and they talked about adaptability and adjusting and being able to do something different.
“OK, so what was working today may not work tomorrow. What’s not working today may work tomorrow. So, we’ve got to be able to adjust. I think people get hung up that all of a sudden once you make a decision one time, you can never change again. That’s not what this is about. The beauty of sports is the ability to adapt and to adjust and to change. The one thing I think we’ve hired here are some really, really bright people, really smart people. And they do understand how to adjust to what’s going on and to change. Will (Stein) wanted a general manager when he came in, wanted to do that. I think for a young head coach, probably important too. He’s got a lot on his plate. Hiring a new staff, trying to come in and get a program up and running. Could use some help that area. Probably a pretty smart decision. Mark Pope has been a head coach a while, and how he determines what he wants to do going forward, clearly, that’s his call. I’m going to lean into him, and we’ll have those conversations. But right now, the focus is just trying to find a way to get better every day on the basketball court and win some games and represent Kentucky.”
HL: There’s been a lot of speculation too, about your own future. Obviously, there’s the date in your contract for next summer when you can transition to the ambassador role. You’re approaching the time you’d have to give notice for that. Have you made a decision on that?
Barnhart: “Two things. I love competing. You know that. You know I love this place with all my heart. We came here in 2002 and planned on saying six to eight years and stayed a lot longer. I know there’s people that get frustrated because I’ve been here a long time, and that’s OK. I sense that. An old boss of mine told me one time, every time you make a 50-50 decision, you lose 50% of your friends. He’s probably not wrong, but we love Kentucky. I get up invigorated about what we’re doing at work. I love watching our kids compete. When that day comes — and don’t know — I’ll sit down with my family, and we’ll talk and determine what’s best for our family and for me, but most importantly, what’s best for Kentucky. I’ve got a couple, two-and-a-half years left on my contract. The ambassador clause is out there. It can go anytime after December 31, and if that’s something that’s best for this university, then we’ll have that conversation. If it’s something that we want to continue to work at it, I would like to win some more things. I like winning. The volleyball run has been a blast. I’d like to win at some more things and see what we got. And I love our coaches. We’ve got good people and fun to work with.”
HL: Has navigating the last two years, with everything you’ve had to do, changed your thinking on that one way or the other?
Barnhart: “The focus certainly has changed. I can say when I first started as an AD, you spent 75% of your time worrying about competition, 25% worried about the other stuff. I would argue it’s flipped. It’s flipped. You spend a great majority of your time worrying about the enterprise of sport and how we sustain it. Maybe on percentages I’m wrong, so hear me out. I just say it has changed. So don’t hold me to the percentage, OK, but I’d say it has changed. It has changed a little bit, where you’re spending a great deal of time in the nuances of the day-to-day. One thing I used to love doing was meeting all the recruits. I love to meet the recruits and their families, and you still do that, but, boy, it’s harder. It’s harder to meet a lot of them. The personal touches have changed a little bit — some of the things you used to do — because it’s so transient. When 35%-40% of your student-athletes are brand new to your program every year, all of a sudden, just getting to know everybody has changed a little bit. So it’s changed, but I still love competing. You still get that feeling when you come out and get ready to start a game, whatever that game is. I think the day that … changes a little bit is probably the day that it’s probably time for someone else to do that.”
This story was originally published December 17, 2025 at 5:00 AM.
NIL
Collin Klein prioritizes K-State football fundraising & NIL
Money has always been an important factor in college football, but it feels paramount for any team that has aspirations of winning a conference championship in the near future.
Much was made about the price tag of Ohio State’s roster after the Buckeyes won a national championship last season. Even more has been made about the cash that Texas Tech infused into its program on the way to the College Football Playoff this season. It won’t be long before another big spender emerges.
With that in mind, perhaps it shouldn’t come as a surprise that new Kansas State football coach Collin Klein found the time to attend a Chamber of Commerce party last week in Manhattan.
A meet-and-greet with local business owners was understandably on his to-do list, because boosting the financial outlook for K-State football is one of his top priorities … right up there with recruiting and the transfer portal.
“Even in the short time I have been here, we have made some really, really good strides,” Klein said when asked about K-State football finances. “I think everything is moving in the right direction.”
The changing landscape of college football demands that every team has money to spend.
A decade ago, it was important for teams to have elite facilities and coaches. Now, it is pivotal that schools have $20 million to share with student-athletes. The best football teams have access to roughly 75% of that number, but they also have even more waiting in reserve to sweeten the pot for players with NIL deals.
Klein spent the past two seasons as the offensive coordinator at Texas A&M. Money was never an object there and the Aggies recruited a roster that was talented enough to win 11 games during the regular season. Klein will continue calling plays for the Aggies in the CFP. When his time in College Station is over, he wants to enjoy similar resources in Manhattan.
He laid out his vision during a Q&A for the K-State Athletics website.
“Right now, it is bringing us up to speed with our competition,” Klein said in the interview. “From a roster management standpoint, there are steps and strides we need to take to be able to compete in today’s recruiting landscape. Some of that is financial, some of that is procedure and operation. That’s one of the biggest things.
“We’ve been blessed with amazing facilities and amazing infrastructure. Now we’ve got to catch up to the market from a staffing standpoint and make sure we have the resources required to put together the entirety of a staff that’s competitive in this league and across the country for where we want to go. Those are the two biggest things we need to catch up on.”
Klein is motivated to help make all of that happen. So much so that he has already met with key donors and business owners in the Manhattan area.
Former K-State football coaches Bill Snyder and Chris Klieman didn’t have to be quite so aggressive during their eras with the Wildcats. Things are different for Klein, and he knows it.
NIL
College Football TV Ratings: Army-Navy Game averages 7.84 million viewers
Once again in its standalone window, America’s Game came down to the wire last week. Ultimately, Navy got a second straight victory over Army, and it became CBS’ most-watched college football game of the season.
An average of 7.84 million people watched as Navy came away with the victory at M&T Bank Stadium in Baltimore. While it’s a 17% decrease from last year’s 9.4 million viewers – the best since at least 1990 – it’s still the second-best viewership for the game since 2018, according to Sports Business Journal’s Austin Karp.
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Last year’s Army-Navy game topped the previous high mark of 8.45 million viewers in 1992. In addition, it tops CBS’ slate of games this year, beating out the 5.6 million viewers who watched Indiana at Oregon in Week 7, according to data compiled by On3.
This year’s Army-Navy game also marked the last for CBS analyst Gary Danielson in the booth. He has worked 17 matchups between the two programs and will get ready for retirement following the Sun Bowl later this month. Charles Davis is set to join Brad Nessler in CBS’ lead booth starting next season.
With the victory, Navy extended its advantage in the all-time series against Army, which dates back to 1890. The Midshipmen have an all-time 64-55-7 record against the Black Knights.
How it happened: Navy defeats Army
Navy struck first in the first quarter of last week’s game, taking a 7-0 lead on a Blake Horvath touchdown. But Army responded with 13 points in the second quarter, including a rushing touchdown from Cale Hellums, to take the lead into halftime.
The two teams traded field goals in the third quarter as Army took a 16-10 lead into the final 15 minutes. That’s when Navy completed the comeback as Eli Heidenreich caught the 8-yard touchdown pass from Horvath, putting the Midshipmen back on top, 17-16. That held as the final, giving Navy a second straight win over Army in the historic game.
Horvath led the charge for Navy, rushing for 107 yards and a touchdown on the ground while adding 82 passing yards to go with the touchdown pass to Heidenrich. On the Army side, Hellums had 100 rush yards and a touchdown to go with 82 passing yards.
Both Army and Navy are now getting ready for their respective bowl games. The Midshipmen will head to the Liberty Bowl on Jan. 2, 2026 against Cincinnati while the Black Knights will square off against UConn in the Fenway Bowl on Dec. 27.
NIL
Ohio State QB Julian Sayin Announces NIL News Before College Football Playoff
Julian Sayin is looking to lead the Ohio State Buckeyes to the national title alongside several other stars like wide receiver Jeremiah Smith.
Ohio State heads into the College Football Playoff with one of the best rosters in the country, starring Sayin and Smith along with wide receiver Carnell Tate, safety Caleb Downs and linebacker Arvell Reese.
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They’re heading into the playoffs as the No. 2 seed after losing to Indiana in the Big Ten title game. The Buckeyes will have a bye week to begin the CFP.
Other teams that will benefit from the bye week include Indiana, Texas Tech and Georgia.
During his time off, Sayin shared some exciting news off the field. The Ohio State Buckeyes quarterback has partnered with Wingstop and Dr Pepper in his latest NIL deal.
“Postseason calls for big plays with @drpepper and @wingstop, had to get the play card out,” Sayin posted.
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Sayin committed to Ohio State after spending some time with the Alabama Crimson Tide.
While he was planning his college football career at Alabama, he made the move to the Big Ten and finished his first season as the starting quarterback as a Heisman Trophy finalist.
Sayin was ranked as the No. 1 quarterback and the No. 6 overall player in the 2024 recruiting class, per 247Sports.
Ohio State Buckeyes quarterback Julian Sayin (10) Adam Cairns/Columbus Dispatch / USA TODAY NETWORK via Imagn Images
Before signing his latest NIL deal and sharing the news with fans online, Julian Sayin had inked deals with The Foundation, Dick’s Sporting Goods and JLab Audio.
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Related: Alabama Reacts to Ty Simpson News Before College Football Playoff
Related: SEC Program Fires Coach After College Football Season
This story was originally published by Athlon Sports on Dec 16, 2025, where it first appeared in the College section. Add Athlon Sports as a Preferred Source by clicking here.
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