Howard University’s head basketball coach, Kenny Blakeney, is taking bold steps to secure the future of the Bison basketball program in the rapidly evolving landscape of college athletics.
According to the Washington Post, Blakeney is seeking a $100 million investment from private buyers to purchase up to one-third of the program in an unprecedented move.
Blakeney’s initiative is a direct response to the changing dynamics of college sports, where financial muscle increasingly dictates success. He is aiming to position Howard as a formidable competitor in the post-NIL collegiate marketplace.
“College athletics is a full-fledged business now. The whole idea is to not get left behind. It’s, ‘How do we include ourselves in this?’ Blakeney told WP. “I don’t want to have a two-tiered system where we’re not able to compete for the NCAA tournament or the national championship.”
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Blakeney’s concerns are rooted in the possibility of a future NCAA tournament that might exclude programs like Howard’s, focusing instead on the Power Four universities and possibly the Big East. “That’s not what I signed up for,” Blakeney said, underscoring his determination to ensure that Howard remains competitive at the highest levels of college basketball.
Over the summer, Blakeney has been actively pitching potential investors, highlighting the urgency of the situation. However, the road to securing this investment is fraught with challenges.
Ricky Volante, a lawyer and former chief executive of the Professional Collegiate League, pointed out that for such a deal to be viable, Blakeney must demonstrate a clear return on investment for potential buyers.
“That’s the carrot that they have to get from a cash flow perspective to actually make money for whoever, whether it’s an ultra-high-net-worth individual or a private equity firm,” Volante explained. “How do you actually give them a return? I think the main way is going to be through media revenue, which then requires you to have access to one of the major media deals.”
Blakeney’s proposal comes at a critical juncture, with the outcome potentially influenced by ongoing legal developments, including the NCAA’s settlement in the House case.
The NCAA and major conferences agreed to a settlement that would establish a revenue-sharing model for athletes beginning in the fall of 2025, though many steps remain to finalize the arrangement.
The settlement could significantly impact the feasibility of Blakeney’s plan, as any federal legislation resulting from the case might empower the NCAA to block such a deal.
Despite these uncertainties, Blakeney is pressing forward, motivated by the belief that time is of the essence. “We’re just at the beginning of it,” he said. “But I do feel like there is a short window of opportunity because the speed that NIL is moving, the transfer portal is moving, the professionalism of our business is happening. This has to take place fast.”
