RESOLVING THE LEDGER
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The UNLV basketball program is, in fact, not for sale. Days after Runnin' Rebels coach Josh Pastner put a $10-12 million price tag on his squad in widely shared comments to a local TV reporter, he walked back his remarks Monday.
"I want to clarify my recent comments regarding support for the UNLV men's basketball program," Pastner said in a statement. "The Runnin' Rebels are not for sale, and my reference to an 'owner' was meant to highlight the level of resources, sponsorships, and overall support needed to compete in today's evolving college athletics landscape — not to suggest anyone could own the program."
The fact that Pastner's remarks needed clarification are a sign of how fluid the college sports business model has become. With some schools taking money from private equity firms and some universities breaking off their athletic operations into third-party entities, the concept of college sports "ownership" isn't as far-fetched as it used to be.
Pastner's initial comments came as he looked ahead to the expected arrival of an NBA franchise to Las Vegas in the coming years. Amid uncertainty over who could own the franchise, Pastner presented an alternative.
"Sell" @TheRunninRebels ? With several groups pursuing an NBA team in Las Vegas, Josh Pastner has a different idea: "Why buy the NBA team? Buy the college basketball team." The UNLV head coach tells me he's looking for a $10-12 million backer to become the "owner" of the… pic.twitter.com/MohABmJtX7
"Buy the college basketball team," he said in an interview with Taylor Rocha of KTNV. "It's legal now. You can be the owner of UNLV Runnin' Rebels men's basketball team, and it's a lot less expensive. You don't have to spend over a billion dollars to own our team. I'm asking for $10 to 12 million to own our team. You still get a great tax write-off and you can be as involved, and you can tell everyone you're the owner of the team."
UNLV followed up on Sunday with a playful social media post listing other things you can purchase for $10 million such as a jet or a mansion before Pastner issued his Monday clarification that the Runnin' Rebels are not actually for sale.
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