LEXINGTON, Ky. (LEX 18) — The University of Kentucky is changing how it runs its athletics department. Friday, UK Board of Trustees approved creating a new company to manage UK Athletics with a goal to create new revenue streams.
"Champions Blue, LLC, to manage and coordinate the university's educational mission concerning intercollegiate athletics," Eli Capilouto said.
UK's Athletics Director summed up the reason for the program's new operating structure and governance model, a move to a limited liability company in today's world of intercollegiate athletics.
"In today's world we've become a little static or a little bit stymied a little bit with new ways to create revenue for our department," Mitch Barnhart said.
UK calls it game-changing providing UK the ability to create public and private partnerships.
"We've got to find multiple buckets to try and find a way to keep moving our program forward," Barnhart added.
President Capilouto and Barnhart will meet regularly with the Champions Blue board, a public entity, to discuss strategy.
As for relying on pro sports experts for advice in the unprecedented age of intercollegiate athletics with name, image, and likeness?
"There's some pieces to that. We have well over 500 athletes in our program. Many of them are going to just have a college experience, most of them are just going to have a college experience and that'll be sort of where it ends. There are going to be aspects to the pro franchises and pro sports world that'll be important that we lean into and learn from, but I think by and large we have to make sure the highways we run down of education and competition are a core of who we are. I think you're wise to get as much expertise from as many different lenses as you can possibly get it from, and that's why we'll really work hard to make sure we're listening," Barnhart noted.
