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Will private equity creep into college football for more financial balance?

A bold proposal could change the way the FCS postseason is run, and who profits from it.

For decades, the Football Championship Subdivision (FCS) has lived in the shadow of the FBS. While the bigger stage claims billion-dollar TV deals, FCS schools often fight just to cover costs. Now, private equity firms see an opening, and it everyone, even the NCAA taking notice.

Sequence Equity, a Los Angeles–based investment firm, has pitched an idea that could flip the script: a privatized FCS College Football Playoff. Instead of being operated solely by the NCAA, a new entity, partly owned by conferences but backed by private investment, would take control of the postseason.

Current FCS playoff

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