being tapped into to make the high valuations liquid for the owners. With the NHL, it was an investment that took over the licensing rights, and to market jerseys, t-shirts, and everything and anything they could produce and sell. The others, I have no idea the details, or why, but there are deals with ALL of the major pro leagues. I am familiar with the Academy Sports transaction, but KKR is extremely diverse and global. everything from medical devices to natural gas exploration. We could spend months evaluating KKR, but I'd rather not, as they were used as an example only. (you asked). You talk about "most of the reports", but I think even you would have to admit, that those deals that paint PE as bad, are the ones that get the ink. It's pretty rare that you read a report where PE getting involved was a win win, because who wants to write about that? My original post was meant to give a different perspective, and while i know how you feel about PE in college athletics, there might be some other opinions I might find interesting.