big difference between them. A private equity is legally able to collect from the conference and schools the balance owed (plus interest) on the amount of the investment. So far, I have not read anything that suggests ESPN has ever tried to collect any remaining balance on its "investment" when the media contract is set to expire. Now it may beg the question how much of an "investment" does ESPN really make in any of media contracts. There may even be differences on when the money changes hand. The private equity may give some/all of the money in advance which would make it a "loan." While ESPN may wait until the end of the fiscal year (June 30) for "services rendered." It may help explain why people view the private equity as operating with more of a loan shark mentality and don't view the networks in the same light.