​On July 1, the University of Utah’s athletic department entered a new era. Crimson Brand Partners, Utah’s new for-profit arm in collaboration with private equity firm Otro Capital, began operations, signaling a significant shift for the university. Under this landmark partnership—the first of its kind in college sports—Utah Athletics is separating its revenue-generating activities into the new entity. This includes events at stadiums and arenas, branding, licensing and sponsorships, ticketing, and digital media. As part of the deal, Otro will inject capital into Utah Athletics in exchange for a share of the new company’s revenue.
Yahoo Sports’ Ross Dellenger initially reported last December that the total capital commitment could reach $500 million, with additional capital commitments anticipated from donors. At Big 12 media days on Wednesday, Harlan indicated that Utah is still evaluating the donor portion of the arrangement and has not moved forward with it yet. Harlan will chair the new company’s board, with the university retaining the majority of seats. The deal includes an exit strategy for Utah within five to seven years, and the university holds the right to buy out Otro’s stake.
With the initiative still in its early stages, Crimson Brand Partners is not yet fully operational. “They’re building their team, but they’re already hunting, and I’m really excited by their progress,” Harlan said, noting a Zoom meeting with them soon after the media briefing. He added that he’s been impressed by the caliber of people they’re bringing in and by what they’ve accomplished so far.
Crimson Brand Partners has already scouted Rice-Eccles Stadium during last week’s Monster Jam World Finals and has started to outline ideas to enhance the venue experience. Harlan pointed to recent events they observed as part of their assessment and emphasized ongoing improvements. He also referenced the upcoming Post Malone concert and the highly anticipated season opener for football, expressing enthusiasm about the team CEO Matt Webb is assembling and the continued momentum.
Webb brings two decades of professional sports experience, previously serving as the vice president of corporate sponsorships for the New Orleans Saints and New Orleans Pelicans. His background will be valuable as the new company pursues major sponsorships with corporations. “Crimson Brand Partners, one of the critical elements of this initiative—and I’ve spoken about this publicly, but it bears repeating—is that this is no longer just about athletic assets. It’s about University of Utah assets presented in a meticulously professional way,” Harlan said. “The pitches have evolved. Now you’re pitching to the big companies for better exposure and reach.”