Big Ten executives are moving forward with a $2.4 billion investment deal, according to a report by Ross Dellenger of Yahoo Sports.
Despite opposition from Michigan and USC the conference plans to seek approval from the other 16 members for a cash infusion from a California pension fund, exchanging a 10 percent stake in the league's TV revenues for the money.
The proposed deal would give UC Investments a share of the league's revenues for 20 years, while giving assenting schools much-needed capital to pay off debt and make facilities improvements. Critics say the proposal amounts to "a payday loan.