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Privacy Choices Continue Skip to main content Mobile Menu Teams Teams Fan Sites Forums Shows College College Football News College Football Player Rankings College Football Schedule College Football Scores College Football Rankings College Football Playoff College Basketball News Women's Sports NIL NIL News NIL Valuation NIL Deals Sports Business Transfer Portal Transfer Portal News NCAA Transfer Portal Transfer Portal Rankings Transfer Portal Team Rankings Recruiting Football Recruiting Basketball Recruiting Database Team Rankings Player Rankings Industry Comparison Commitments Recruiting Prediction Machine High School High School News Schools Rankings Scores Draft NFL Draft NFL Draft News Draft By Stars College Draft History NBA Draft NBA Draft News Pro NFL NASCAR NBA Sports Predictions About About On3 App Advertise Press FAQ Contact Join NowLogin Teams CFB Schedule HSFB Rankings AP Poll NIL Valuations Team Recruiting Rankings Search Search players Search 60% OFF- Special Offer Rivals + National — $19.99 for your first year Join Now On3 Football Learfield finalizing a sale to private equity firm TPG Pete Nakos@PeteNakos 04/14/26 0 Share Share Video 1 Video 2 Video 3 Video 4 Video 5 Video 6 Video 7 Keep Watching College Football Teams I TRUST The Most… Watch More Learfield, the major college sports multimedia rights holder, is finalizing a sale to private equity firm TPG, industry sources confirmed to On3 on Monday night. An official announcement is expected on Tuesday morning. The sale price is roughly $1.8 to $2 billion, sources told On3. TPG will have a controlling stake in Learfield. The news of the sale does not come as a surprise as Learfield has been engaged in high-level conversations around a potential sale for months. It’s a clear entry point for TPG to enter the college athletics space. TPG is effectively purchasing Learfield’s client base. Learfield is viewed as one of the leading third-party multimedia rights partners in college sports. The company works with over 140 Division I institutions, but top brands include Alabama, Michigan, Ohio State, Oklahoma, Oregon, Tennessee, Texas Tech and USC. Learfield reduced its outstanding debt by over $600 million while securing $150 million in new equity investment in September 2023. Learfield’s debt had accumulated over time, but specifically from three distinctive reasons. The Texas-based firm’s spending on acquisitions ultimately led to a merger with IMG College in 2018. The COVID-19 pandemic brought much of college sports to a halt, including fans in seats. Contracts with institutional partners that were structured over market value also proved to be notable. The multimedia rights partner mostly sat on the sidelines in NIL until recent years, turning Compass, which has been primarily used as the athlete opt-in platform for major licensing campaigns likeFanaticsandEA Sports College Football 25, into a dealmaking platform in 2024. With the new revenue-sharing era of college athletics, brand deals have been facilitated through Learfield properties at schools like Ohio State and Tennessee. The deals have been critical to getting dollars to top athletes with the new College Sports Clearinghouse. Learfield has also facilitated multiple jersey patch sponsorship deals with new NCAA legislation set to take effect in August. 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Curated by Taleb Kabbara · Source: on3.com