In the wake of a report that 94% of English football clubs are loss-making, Sky Sports’ Rob Harris notes two-thirds couldn’t survive 90 days without owner funding. Harris also notes that Independent Football Regulator Chair David Kogan vows to resign from his role if there is any attempt by the English government to intervene in Manchester City’s case. Kogan: “We are absolutely bound by one thing, and that one thing is regulating football and regulating football clubs. Our independence is absolute, and my independence personally is absolute. I made it very clear in an interview last year that if we [experience] any form of political interference on the way we operate it is going to result in my resigning from this role, and I stand by that completely. Just to be crystal clear, we've come under absolutely no political pressure whatsoever on this or any other topic, and I don't expect to in the future." According to Harris potential penalties for Man City range from a points reduction to expulsion from the league. (link, link)

Arsenal has informed employees of plans to eliminate 60 positions across multiple departments despite winning the Premier League title and generating record revenues. The proposed workforce reduction will exempt the coaching staff, the academy, the Arsenal Foundation, and performance teams for both the men's and women's sides. The Athletic's Dan Sheldon and James McNicholas note the cost-cutting measure follows the release of the club's 2024-25 financial results, which reported a £1.4M loss against £691M in total revenue. Commercial income drove the financial growth, increasing £45M to £263.2M following a February 2024 training ground naming rights agreement with Sobha Realty. The personnel changes also come  shortly after the club signed manager Mikel Arteta to a contract extension through 2030, a deal reportedly establishing him as the league's highest-paid coach. (link)

Meanwhile, as college athletics leaders explore institutional investments, D1.extra examines private capital’s deployment in English football as a conceptual framework. The data indicates minority capital structures consistently outperform full control acquisitions, particularly when existing management retains decision-making authority over sporting operations. It’s important to note, however, that managerial stability serves as another critical indicator, as every English club that recorded a large gain in the standings retained a long-serving head coach. The report poses several critical questions for university administrators to evaluate before engaging with private equity funds: "What is the investor buying: equity in a commercial entity, a revenue share, or a loan? Which decisions stay with the university: coaching, recruiting, scheduling, Olympic-sport budgets? Does any acquisition or financing debt land on athletics?" Dig into the data yourself. (link)

The contrasting two-decade trajectories of Syracuse and Northeastern highlight how aggressive enrollment management and specialized academic positioning can vault an institution into the national elite, according to The Chronicle of Higher Education's Jeffrey Selingo. While Syracuse adhered to the traditional "comprehensive university" model—relying on sheer breadth of programs and athletic visibility—Northeastern heavily invested in its signature co-op program to capitalize on growing parental demand for career-focused outcomes. Northeastern also utilized alternative entry points, such as study abroad programs and acquired campuses in Oakland and London, to pare down its Boston-student acceptance rate. The divergent strategies resulted in Northeastern's yield rate climbing from 24% in 2006 to 46% by 2025, while Syracuse's dropped from 31% to 17% during the same span, underscoring the necessity for universities to carve out distinct market identities. Selingo: "Syracuse cannot recreate its glory days simply by spending its way back into the national conversation. Athletics can amplify the university’s identity, but it cannot substitute for one." (link)

More from the Chronicle as several public universities are deliberately reducing student headcount by raising admission thresholds and enforcing strict fee deadlines to improve long-term retention and stabilize revenue, according to Taylor Swaak, who notes institutions including Arizona, Memphis, Howard, and Louisiana shifted their enrollment strategies after grappling with budget shortfalls, such as a $177M deficit at Arizona and a projected $26M deficit at Louisiana. Administrators eliminated rolling admissions, raised minimum GPA and test-score requirements, and disenrolled non-paying students to ensure incoming cohorts are academically and financially prepared to graduate. Campuses are simultaneously strengthening community college articulation agreements to provide denied applicants with alternative degree pathways. Howard Interim President Wayne A.I. Frederick: "The idea that the institution should afford them an opportunity, regardless of our ability to assist them finishing, is an unfortunate narrative. That’s where we begin to have problems. ... I’d much rather us interrupt the cycle." (link)

Tampa Bay Rays CEO Ken Babby addressed complaints regarding expensive face-value ticket prices following consecutive non-sellouts during the American League Championship Series at Tropicana Field. The Athletic’s Sam Blum points out the club recorded an announced attendance of 32,125 for ALCS Game 2, drawing roughly 8,000 fewer fans than its sold-out American League Division Series opener against the New York Yankees. Upper-deck tickets on the primary market carried a $84 get-in price near game time, though supporters reported initial costs dropped by up to two-thirds in the days leading up to the game. Longtime Rays fan and blogger Danny Russell: “The pricing and the discounts are unclear. So people don’t know what fair value is for the seats. Even if there is still availability, they’re trying to decide what is a fair price to get into Tropicana Field.” (link)

The District of Columbia is considering a $526M municipal bond issuance to help finance site preparations for the Washington Commanders' new 65,000-seat stadium at the former RFK Stadium grounds. The potential bond sale—led by Goldman Sachs & Co. and Loop Capital Markets—is part of a broader $3.7B public-private partnership approved by the DC Council last year. Under the agreement, the NFL franchise will make a historic $2.7B private investment to cover all stadium construction and overrun costs, while paying property taxes on the surrounding 180-acre mixed-use development. The overarching campus master plan includes retail, offices, and up to 6,500 new housing units, with the new stadium slated to open in 2030. (link)

Golfweek's Eamon Lynch reports that PGA Tour CEO Brian Rolapp is weighing the financial and structural penalties for returning LIV players like Jon Rahm and Cameron Smith. The standard tour policy dictates a one-year ban from a player's final LIV event—pushing baseline eligibility to August 2027—but Rolapp could structure individual return agreements mirroring the terms set for Brooks Koepka, who paid a $5M charitable donation and forfeited tour equity grants for five years. Returning golfers may also be forced to forfeit past competitive exemptions and start in the lower-tier Challenger Series in 2028 to earn promotion to the elite Championship Series. Lynch: "Not a single LIV player has leverage now, no matter what their egos or 20-percenter coat holders or YouTube likes would have them believe. Whatever future exists for them on the PGA Tour will be determined solely by what Rolapp can win support for among his members, the same guys who haven’t forgotten that LIV tried to upend their business. The bill coming due will be painful." (link)

Trouble in PE Land? New State Capital Partners has lost approximately a third of its employees over the last year as rising borrowing costs and portfolio underperformance jeopardized carried interest payouts, according to The Wall Street Journal's Mark Maurer. The staff departures—which include two of the firm's three founding partners—center on mounting concerns regarding the firm's second and third funds failing to generate sufficient cash to clear profit hurdle rates. The New Rochelle-based firm, which manages $2B, reflects broader headwinds constraining the private equity industry following a period of aggressive acquisitions at peak valuations when interest rates were near zero, per Maurer, who notes smaller firms lacking the diversified business units of Wall Street titans like Apollo, Blackstone, and KKR are uniquely vulnerable. Odyssey Search Partners Co-Founder Anthony Keizner: “It’s not the work or lifestyle that many of these guys entering private equity imagined and so that’s leading to some disenchantment with the industry.” (link)

Getty Images will go private through a prepackaged Chapter 11 bankruptcy restructuring backed by up to $433M in new equity from the Getty family and Koch Equity Development (KED). Getty, which accumulated $2.1B in debt before a planned merger with Shutterstock collapsed in July, secured an agreement with major financial stakeholders to alleviate its balance sheet. As part of the reorganization, KED will provide approximately $143M in debtor-in-possession financing and convert roughly $100M of existing debt into equity. The company’s $270M in senior unsecured notes will be fully retired, while secured creditors have agreed to extend maturities and lower interest rates on term loans and a revolving credit facility. (link)

The U.S. Treasury fined Bank of America $1.2B for failing to report more than $5B in suspicious transactions tied to global money laundering and sanctions violations. The overarching penalty includes an historic $750M civil assessment from the Office of the Comptroller of the Currency and an $11.6M settlement regarding illicit financial ties to Iran, Russia, and global terrorism networks. Regulators placed BofA under a consent order requiring third-party oversight after the institution failed to address a 2024 cease-and-desist directive, prompting the bank to take a $1.2B third-quarter charge that reduces net income by 17 cents per share. Treasury Secretary Scott Bessent detailed why the government is penalizing institutions that fail to monitor illicit capital flows: "Financial institutions are on the front lines of protecting our economic and national security. When a bank of this size fails to meet its anti-money laundering and sanctions obligations, the consequences extend far beyond its own walls, exposing the entire US financial system to significant illicit finance risks." (link)

McKinsey is piloting a new artificial-intelligence avatar to simulate client interactions during entry-level business-analyst interviews this fall. The Wall Street Journal's Chip Cutter reports the roughly 10-minute exercise tests how undergraduate candidates respond to various client personalities—such as a probing mayor reviewing stadium placements—while human partners observe the interaction in the room. The tool does not independently score applicants but instead aims to standardize the role-playing experience and prevent candidates from relying on rehearsed interview answers. McKinsey Partner Saleem Zafar, who helped design the pilot, explains the simulation evaluates a recruit's ability to navigate unexpected friction rather than simply delivering a prepared presentation, adding: "The things I’m paying attention to are: Hey, did you hear what they said that was important? Did you act on that? Did you blow through it? Did you come with your agenda and you’re, like, ‘I’m gonna steamroll this answer.’ What we’re looking for is how do you respond to changing stimuli?" (link)

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(Posted from most recent over the last 30 days).

(NEW!) Director of Athlete Compensation (Clemson University / Clemson, SC): Key member of the Athletics Central Front Office, providing strategic leadership & analytical support in the development, negotiation, and administration of student-athlete compensation strategies. More details HERE.

Data Analyst – Athletic Financial Reporting (Texas A&M University / College Station, TX): Provide data support for departmental projects and business processes and perform assigned administrative and financial business functions for Athletics business operations. More details HERE.

Financial Analyst I (2 Positions) (University of Arizona / Tucson, AZ): Help drive Arizona Athletics forward through financial insight, analysis, and strategy. Join our team as a Financial Analyst I and help turn data into informed decisions. More details HERE.

Associate Athletic Director, Revenue Marketing & Business Intelligence (University of Maryland / College Park, MD): Leads data-driven marketing and analytics to grow revenue, attendance, donor engagement, retention, and databases through targeted campaigns, pricing, audience insights, and sales partnerships. More details HERE.

Athletics Business Coordinator (Rice University / Houston, TX): The Business Coordinator will help in the generation of budget reports, purchasing, and deposits for the Athletic Department. More details HERE.

Athletics Business Associate (University of Illinois Springfield / Springfield, IL): Lead the business and HR operations for athletics, including providing insight into budgets, policies and staff hiring. Serves on senior staff. Has opportunity for athletics administration duties. (DII) More details HERE.

Coordinator - Business & Finance (University Athletic Association, Inc. at the University of Florida / Gainesville, FL): Manage key financial processes including accounts receivable and bank statement reconciliations. Support balance sheet reconciliation reviews. Ensure timely/accurate recording of incoming payments. More details HERE.

Assistant Athletic Director, Business Operations, Department of Athletics (R0009158) (Wake Forest University / Winston-Salem, NC): The Assistant Athletic Director, Business Operations, is responsible for a broad range of accounting and business operations functions within the Department of Athletics’ Business Office. More details HERE.

Assistant Business Manager (University of Texas – Austin / Austin, TX): To provide support assigned Sport Programs and Departments within Intercollegiate Athletics, in the areas of budget management, travel, procure to pay, and related business functions. More details HERE.

Data Analyst I (University of Alabama / Tuscaloosa, AL): The Data Analyst I gathers, audits, analyzes, and reports low- to moderate-complexity data under general supervision. More details HERE.

Deputy Athletic Director (University of Washington / Seattle, WA): Washington Athletics has an outstanding opportunity for a Deputy Athletic Director to join their team. More details HERE. What would it cost to move to Seattle? Click HERE.

Assistant Director for Business Services (University of Connecticut / Storrs Mansfield, CT): The University of Connecticut is seeking applications for the full-time position of Assistant Director for Business Services More details HERE.

Assistant or Associate Athletic Director, Business Operations/SWA (Sacred Heart University / Fairfield, CT): Provides operational leadership for Athletics' business functions. Oversees financial management, budgeting, purchasing, contracts, revenue and expense tracking to ensure fiscal responsibility More details HERE.

Associate VP & Chief Commercial Officer/Chief Revenue Officer (Ohio State University / Columbus, OH): Responsible for developing and executing a comprehensive revenue growth strategy for the Department of Athletics and Buckeye Enterprises at The Ohio State University. More details HERE. What would it cost to move to Columbus? Click HERE.

Director, Business Office (Spartan Ventures / East Lansing, MI): This role, in conjunction with the Spartan Ventures CFO, will manage all financial activity related to the organization and contribute directly to the success of Michigan State University Athletics. More details HERE.

Manager, Financial Planning and Analytics (University of Texas – Austin / Austin, TX): This position will serve as a point-of-contact for financial planning and internal control functions within the Department of Athletics. More details HERE.

Director of Athletics Budget and Finance (Syracuse University / Syracuse, NY): The Director of Athletics Budget and Finance oversees the comprehensive stewardship, fiscal integrity, and business operations of the athletic department More details HERE.

Assistant Athletic Director, Business Operations (FINANCIAL ANL SUPV 1) Job 88459. (University of California – Davis / Davis, CA): This position is responsible for overseeing all Business Office operations, including account management and oversight of an approximately $50M budget as well as all purchasing and travel activities. More details HERE.

Associate Athletic Director (California State University – Fullerton / Fullerton, CA): Assist the AD with overall organization and management of the Athletic Department, operational and strategic planning, sport supervision, policies and procedures, assist with budgetary decisions. More details HERE.