UNLV men’s basketball coach Josh Pastner made two mistakes last week in his ongoing quest to create new revenue streams for his program.
He got too far ahead of the curve and didn’t come up with a creative branding term for what he was asking for in his latest pitch.
Otherwise, no notes.
Pastner was offering yet another glimpse into the new world of college sports when he proposed the possibility of a donor stepping up to become the “owner” of the UNLV basketball program.
“I have told people, why buy the (potential expansion) NBA team?” Pastner said. “Buying a college basketball team is legal now. You can be the owner of the UNLV Runnin’ Rebels men’s basketball team, and it’s a lot less expensive. You don’t have to spend over $1 billion to own our team. I’m asking $10 to $12 million to buy our team, and you still get a great tax write-off. You can be as involved, and you can tell everybody you’re the owner of the team.”
That one key word and concept sparked immediate reaction.
A college basketball team can’t be purchased in the traditional sense. It’s not like a tangible asset that could then be sold by the stakeholder once the value goes up, at least not in the current version of college sports. But who knows what’s coming?
Because the idea of a top-tier donor taking on a leadership, or at least advisory, role in the program isn’t outrageous.
In fact, it’s hard to believe it won’t be a regular staple within the next few years.
But Pastner using the “O-word” allowed widespread mockery to take over the narrative on social media.
So much so that he had to put out a clarifying statement a day later on social media.
“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,” he said. “This program belongs to UNLV, its students, alumni, fans and the Southern Nevada community and always will.”
Sure, but like, that ownership collective probably could use someone with the kind of cash that can change the trajectory of the program and is willing to pay enough to make that happen in exchange for a prominent role in the program.
Call it the “Runnin’ The Rebels” program or something if we are freaked out by the word owner.
UNLV needs money to win in the modern era.
All programs do. It is the new reality across college sports.
The NIL era and the free exchange of money has changed the game and made the rich programs richer, but it also has allowed programs to make big splashes with large influxes of cash.
While there is a scramble to enact legislation and limit some of the spending (because the horrors of seeing the athletes profit off their talents and the immense revenue they generate, but that’s a topic for another day), don’t expect things to change soon.
But, in reality, some of the donors dropping big money on programs and players are going to want more and more in return. That already exists. Schools around the country, including UNLV, have different benefits at different tiers of giving to reward those who fund the programs.
And college teams already have adapted to the times to hire general managers like pro teams.
A designated individual who earns a large say in the program in exchange for funding the majority of it, which oh by the way is already a thing at some major institutions, is not at all a wild concept.
Sorry if the word owner was slightly inarticulate and one for which you weren’t ready, but Pastner’s statement was not out of line with college sports trends.
Just wait for what’s coming.
Contact Adam Hill at ahill@reviewjournal.com. Follow @AdamHillLVRJ on X.
