News Summary
The Arizona Board of Regents has hired William Morris Endeavor to assist the state’s universities in overcoming financial challenges within their athletic departments due to the COVID-19 pandemic. The consulting deal involves a comprehensive athletics needs assessment and ongoing expert consultation. This partnership aims to enhance financial stability and operational efficiency for the University of Arizona, Arizona State University, and Northern Arizona University as they navigate a changing collegiate athletics landscape.
Phoenix – The Arizona Board of Regents has enlisted the services of William Morris Endeavor (WME), a leading sports consulting firm, to assist in navigating the financial difficulties facing the state’s universities’ athletic departments in the wake of the COVID-19 pandemic.
The consulting engagement targets the University of Arizona (UA), Arizona State University (ASU), and Northern Arizona University (NAU). It involves a two-pronged approach comprising a comprehensive athletics needs assessment costing $275,000, with an additional $35,000 earmarked for travel expenses, along with a year-long contract priced at $120,000 for expert consultation on athletic strategy and emerging trends.
This agreement, which aims to bolster the financial stability and operational efficiency of the athletic departments, was officially signed in January by Michael Zavodsky, a partner at WME Sports and a former executive in the National Basketball Association (NBA).
The timing of this consulting arrangement coincides with significant developments in ASU’s football program, as head coach Kenny Dillingham has received a contract extension and a salary raise. Notably, Coach Dillingham is also represented by WME.
WME’s primary responsibilities will include advising the universities on how to fully capitalize on underutilized revenue streams and adeptly handle changes in NCAA governance and regulations. This is particularly crucial, considering the financial challenges faced by Arizona’s athletic departments, with UA reporting a $20.5 million deficit fueled by $36.2 million in subsidies for the 2023-24 fiscal year. Meanwhile, ASU has reported that over $51.7 million in campus subsidies will be needed in the fiscal year 2024 to maintain athletic budget balance, following a previous agreement that aimed to eliminate over $300,000 in athletics-related obligations.
Both the UA and ASU have recently transitioned into the Big 12 Conference, positioning themselves within a new competitive landscape while discussing potential funding support from institutional capital firms. Prior to this, in 2022, the Big 12 engaged WME Sports and IMG Media to provide guidance on multimedia rights and social media strategy, marking a growing reliance on specialized advisory services within collegiate athletics.
This collaboration with WME signifies WME’s inaugural advisory deal with multiple universities, presenting a distinctive system-level management approach for UA, ASU, and NAU. The focus of the consulting role will center on collective revenue generation opportunities and balancing institutional autonomy against broader system priorities.
To ensure comprehensive engagement, WME will report directly to the Arizona Board of Regents, conducting biweekly consultation sessions on athletic departmental issues, including compliance with Name, Image, and Likeness (NIL) regulations.
The partnership was announced subsequently, with both WME and the Arizona Board of Regents affirming the necessity of adapting to the dynamic landscape of college athletics. Additionally, Erika Barnes, a former administrator from the University of Arizona, has launched the EB7 Advisory Group, which is aimed at providing further support to athletic programs and student-athletes amid these evolving challenges. EB7 is set to collaborate with WME, emphasizing strategic planning, revenue generation, and the enhancement of the student-athlete experience.
This alliance signals a proactive approach in addressing financial hurdles while simultaneously fostering growth opportunities across the athletic domains of Arizona’s universities during a time of uncertainty and transformation in collegiate sports.
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Additional Resources
- Sportico: Arizona Board of Regents Enlists WME
- Wikipedia: NCAA
- Sports Business Journal: Arizona Board of Regents Working with WME
- Google Search: Arizona Board of Regents
- On3: Arizona Board of Regents Announces Partnership with WME
- Google Scholar: College Athletics Financial Strategy
- Tucson: Arizona Women’s Basketball Article
- Encyclopedia Britannica: College Athletics
- PR Newswire: Erika Barnes Launches EB7 Advisory Group
- Google News: College Sports Consulting
