The Imperative to Lead: The Future of Athletics at the University of Utah

Dear University of Utah Community:

The University of Utah has a proud and distinguished tradition of innovation, leadership and excellence—in education, research, patient care and athletics. While our academic mission will always be at the center of everything we do, we also know that for many, college sports are the connection to this flagship research university.

Our athletics programs have operated in a highly efficient manner, generating a modest surplus over the years with the support of generous donors and student fees. However, the decision to share revenues with student-athletes under the House Settlement and the emergence of the transfer portal have disrupted the status quo and introduced significant costs to the university. Additionally, we face growing financial headwinds across all of our missions—academics, research and patient care.

To address this challenge, we are proud to announce an important step forward: the formation of Utah Brands & Entertainment LLC, a new company owned by the university's Foundation. Utah Brands & Entertainment will enable Utah Athletics to transition to a modernized business model that can more strategically build our brand and strengthen our athletics programs. As a part of this transition, the university will transfer select core revenue-generating operations from athletics and auxiliary services to Utah Brands & Entertainment.

This new business also gives us the opportunity to bring on experienced partners who can help us strengthen the business operations of athletics, enhance the fan experience and grow revenues. To that end, we intend to partner with certain prominent university supporters as well as Otro Capital, a firm with deep operational experience in sports, entertainment and media, to help support and strengthen this new venture and its long-term growth potential. This bold and innovative approach reflects the university's commitment to modernization, entrepreneurship and reinvention, while supporting the long-term success of the entire university.

We want to share why we are taking this step, how the company will operate and what it means for the university and our Athletics Department.

The Changing Landscape

Intercollegiate athletics is undergoing transformational change, including student-athlete revenue sharing, unlimited transfers and evolving governance structures. At the same time, the cost of supporting a nationally competitive athletics program has risen dramatically and far outpaces revenue growth. Revenue sharing with student-athletes began July 1, 2025, and will increase this gap significantly. These pressures challenge traditional models, but they also create new opportunities for innovation.

What Is Utah Brands & Entertainment?

Utah Brands & Entertainment will build the University of Utah brand as well as manage and grow key revenue streams across the Athletics Department and the university. This includes overseeing, optimizing and enhancing the fan experience, corporate sponsorships, ticketing, event-related revenues and campus-wide university trademarks and licensing.

Importantly, the university is not selling parts of our Athletics Department, ceding operational control to a third party or relinquishing control of any facilities. Decisions regarding sports, coaches, scheduling, operations, student-athlete care and other athletics matters will remain solely with the Athletics Department under the leadership of Athletics Director Mark Harlan. The university's Foundation will appoint a majority of the board of directors of Utah Brands & Entertainment, and the board will be chaired by the Athletics Director.

What This Means for the University

The university will have a partner in Otro Capital, which has deep expertise in building brands, running entertainment venues and creating world-class fan experiences. This new model will enhance operations of key commercial activities and generate a significant influx of funding for Utah Athletics. It will also help enhance the gameday experience for our incredibly passionate fans. Ultimately, it will improve the student-athlete experience, strengthen our programs and ensure Utah Athletics can continue to thrive and compete for conference and national championships–now and into the future.

Most importantly, this transition will allow more of the university's internal resources to remain focused on education (scholarships, access and student success), cutting-edge research and exceptional patient care. By modernizing our athletics model, we are protecting and strengthening our ability to advance our academic mission and deliver societal impact over the long term.

A Step Forward, Together

Utah Athletics is integral to the university. It provides the university with unparalleled exposure to prospective students and faculty. It helps drive applications and enrollment. It encourages and enhances alumni and donor engagement. It unites the Salt Lake community and has a significant economic impact on both the local and regional economies.

The move to this new modernized business model has the support of the university's Board of Trustees, which approved the transition on December 9, 2025, and expects to have the deal finalized by early next year. University leadership is confident this approach will provide significant benefits to students, staff, faculty, fans and taxpayers while positioning all of Utah Athletics' programs for sustained success.

The U has always led with vision and purpose. As the world of college athletics continues to shift, this step positions us to remain competitive, innovative and firmly aligned with our academic mission, while continuing to unite our community through the power of Utah Athletics.

Go Utes!

Taylor Randall Mark Harlan
President Athletics Director

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