It shouldn't in theory, the PE cut of the money would just be taxed at that level.
My confusion is what the PE firm is actually buying here. These deals have been increasing in European soccer, buying up future TV rights and other income streams, but those clubs and leagues can't just scatter to the wind the way the Pac 12 did.
How does the firm enforce this against a bunch of government entity schools in a diverse pileup of states?
The harder it is to answer that question, the less these rights are worth today.
Honestly this sport is committing suicide so fast it's all going to be moot anyway before long.
This For Sure ! ! !