UNLV coach clarifies basketball program is not for sale after valuation comments
The head coach stated his reference to an 'owner' was rhetorical, highlighting resource needs in modern college athletics rather than a genuine sale proposition.
UNLV Runnin' Rebels head coach Josh Pastner has issued a formal statement clarifying that the university’s basketball program is not available for purchase. The clarification follows a series of comments made earlier in the week, in which Pastner suggested that a backer could acquire the team for between $10 million and $12 million.
In an interview with local television reporter Taylor Rocha, Pastner initially framed the acquisition of the college team as a viable alternative to purchasing an upcoming NBA franchise in Las Vegas. He argued that buying the university squad was "legal now" and significantly cheaper than the over $1 billion typically required for an NBA team, while also offering tax write-offs.
Pastner stated he was seeking a backer to become the "owner" of the team, allowing them to be involved in operations and claim ownership. However, he later walked back these remarks, explaining that his reference to an 'owner' was intended to highlight the significant resources, sponsorships, and overall support required to compete in the modern college athletics landscape.
The initial comments sparked immediate discussion, with UNLV playfully responding on social media by listing other assets available for $10 million, such as a jet or a mansion. Pastner’s subsequent statement on Monday sought to correct the record, emphasising that the Runnin' Rebels are not for sale and that his earlier remarks were not an indication that anyone could own the program.
The incident underscores the evolving nature of the college sports business model, where some schools are exploring private equity involvement and others are breaking athletic operations into third-party entities. While traditional NCAA rules generally prohibit ownership of athletic programs, the fluidity of the current landscape has made the concept of college sports "ownership" a topic of broader industry debate.
Pastner’s comments came against the backdrop of uncertainty regarding ownership groups for the NBA franchise expected to arrive in Las Vegas in the coming years. By juxtaposing the college team with the professional franchise, he highlighted the financial disparities and potential opportunities within the region's sports market, even as he retracted the literal suggestion of a sale.
The clarification serves as a reminder of the complexities facing university athletic departments as they navigate increasing commercial pressures. While the concept of selling a college team remains outside the current regulatory framework, the discourse surrounding funding and ownership structures continues to shift, reflecting the growing commercialisation of collegiate sports.
