Arctos Chief Warns on Private Equity in College Sports
Dallas investor Ian Charles spoke at the Dallas Citizens Council annual meeting on private equity's growing role in collegiate athletics.
Updated on Nov. 6, 2026 in Public Companies
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Ian Charles, managing partner of Dallas-based Arctos Partners, publicly criticized private equity involvement in college sports at the Dallas Citizens Council annual meeting. His remarks come as the Big 12 has agreed to a deal with RedBird Capital earlier in 2026.
Why it matters
Private equity's expanding presence in college athletics is reshaping how conferences and universities finance their programs. Stakeholders in the Big 12 ecosystem are now weighing more such partnerships.
Private equity firms are reported to target a 15 to 17 percent rate of return on their investments. SMU has held conversations with three to four private equity groups, though the status of those talks was not detailed.
The players
Ian Charles
Managing partner of Arctos Partners, a Dallas-based investment firm with stakes in the Golden State Warriors, Boston Red Sox, Los Angeles Dodgers, Buffalo Bills, Liverpool F.C., and Aston Martin F1 Team.
Brett Yormark
Outgoing commissioner of the Big 12 Conference, who was part of the panel discussion on college sports restructuring.
Damon Evans
Athletic director at Southern Methodist University (SMU), who participated in the discussion and has held talks with private equity groups.
The details
Charles spoke on stage at the Dallas Citizens Council annual meeting on November 5, alongside Big 12 outgoing commissioner Brett Yormark and SMU athletic director Damon Evans. The panel discussed forces restructuring college sports, with Charles offering his critical view of private equity's role.
Timeline
Earlier in 2026: Big 12 agreed to a deal with RedBird Capital.
Earlier in 2026: University of Utah became the first Big 12 athletic department to team up with private equity.
November 5, 2026: Charles spoke at the Dallas Citizens Council annual meeting.
Market Landscape
The Big 12's agreement with RedBird Capital and the University of Utah's partnership signal that private equity is moving deeper into college athletics. Arctos's public skepticism highlights the competitive and financial tensions as more conferences and programs weigh similar deals.
Private equity involvement could change how college athletic programs are funded and operated, potentially affecting ticket prices, broadcast access, and program budgets. Fans and students may feel these effects as conferences and universities adopt new financing structures.
The takeaway
Private equity's growing role in college sports is a trend worth tracking, since its financial return targets may shape future decisions about conference alignment, revenue sharing, and program priorities.
Further reading
Explore more Public Companies coverage in Dallas for related corporate developments.
Source note: This article includes information reported by D Magazine.
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