Key Takeaways
- • The University of Utah's proposed investment venture with Otro Capital, reportedly a $100 million funding round, is the subject of questions after two Utah-linked LLCs with names identical to those announced by the university surfaced in public records.
- • The first LLC was incorporated on the same day the school approved the partnership, according to FOIAball's reporting.
- • A later LLC and the first were registered by the son of a former Utah basketball coach who has served two separate federal prison sentences for fraud, per FOIAball.
- • FOIAball reports that the university's responses to its inquiries have not answered the questions raised about the entities.
Summary
FOIAball, a newsletter focused on money and power in college sports, is continuing its scrutiny of the University of Utah's private equity arrangement with Otro Capital. In a prior report, the publication noted that the names of two limited liability companies registered in Utah were identical to the names the university announced for its investment venture with Otro Capital.
According to FOIAball, the first LLC was incorporated on the same day the school approved the partnership. The publication reports that this entity, along with a later LLC, was registered by the son of a former Utah basketball coach, a individual who served two different federal prison sentences for fraud. FOIAball states it emailed the university to ask about these details.
The publication characterizes the university's explanations as failing to address the core questions. The source material available for this summary is limited to the newsletter's own account, and the full text of the university's responses is behind a paid subscription wall, so specific wording of the school's replies is not reported here. The reporting raises questions about governance and due diligence in the structuring of a reported $100 million funding arrangement, though no regulatory action or formal findings are reported in the source material.
According to FOIAball, the first LLC was incorporated on the same day the school approved the partnership. The publication reports that this entity, along with a later LLC, was registered by the son of a former Utah basketball coach, a individual who served two different federal prison sentences for fraud. FOIAball states it emailed the university to ask about these details.
The publication characterizes the university's explanations as failing to address the core questions. The source material available for this summary is limited to the newsletter's own account, and the full text of the university's responses is behind a paid subscription wall, so specific wording of the school's replies is not reported here. The reporting raises questions about governance and due diligence in the structuring of a reported $100 million funding arrangement, though no regulatory action or formal findings are reported in the source material.
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