USC AD Jen Cohen reportedly wants 'long-term benefits' from $2 billion Big Ten deal

Jeff Hauser

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USC AD Jen Cohen reportedly wants 'long-term benefits' from $2 billion Big Ten deal image

USC athletic director Jen Cohen said the university must prioritize long-term stability as the Big Ten continues evaluating a proposed private equity deal that could bring the conference up to $2.4 billion in new investments. 

In a letter to fans Friday, Cohen said USC leadership is aligned in its belief that any agreement must protect the school’s “long-term value and flexibility,” even if that means passing on significant short-term financial windfalls.

“As we continue to evaluate the merits of this proposal or any others, our University leadership remains aligned in our stance that our fiduciary obligation to the University of Southern California demands we thoroughly evaluate any deals that could impact our long-term value and flexibility, no matter the short-term benefit,” Cohen wrote via ESPN.

The plan would create a new business arm, Big Ten Enterprises, that would oversee media rights and sponsorships. Schools would receive equity shares in the entity, while an investment fund tied to the University of California pension system would receive a 10 percent stake in exchange for more than $2 billion. The deal would also extend the Big Ten’s grant of rights through 2046.

USC and Michigan have expressed skepticism, arguing the proposal provides cash but does not solve the rising expenses driving financial strain across college athletics. Cohen also noted that projected payouts would be uneven and establish a tiered system favoring larger programs.

“We greatly value our membership in the Big Ten,” Cohen added. "But we also recognize the power of the USC brand is far-reaching, deeply engaging, and incredibly valuable, and we will always fight first for what's best for USC."

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