University of Utah's athletics department is coming up with model ways to keep their eye on the ball and stay in the game. Photo: TownLift // Michele Roepke

SALT LAKE CITY, Utah — The University of Utah and the University of Utah Growth Capital Partners Foundation announced they have finalized their partnership with Otro Capital, an operator-led private equity firm with expertise across sports, entertainment, and media, on Friday.

The partnership marks a major milestone in the institution’s effort to protect its core missions of education and research while also generating sustainable funding for Utah Athletics.

“This new company puts the University of Utah at the forefront of developing creative and strategic solutions to the financial challenges facing college athletics programs across the country,” said President Taylor Randall in a statement. “Utah will continue to lead out with unique and entrepreneurial ideas for keeping our Utes sports programs financially sustainable and foundational to the student experience.”
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Crimson Brand Partners, previously known as Utah Brands & Entertainment, is an innovative operating model designed to modernize the way Utah continues to build its brand and fund its 19 athletics programs—including women’s and Olympic sports—over the long term.

The partnership was authorized by the University of Utah Board of Trustees on Dec. 9, 2025. Crimson Brand Partners will manage commercial operations across Utah Athletics and the broader university—including events at stadiums and arenas, branding, licensing and sponsorships, ticketing, and digital media.

Coaching, recruiting, scheduling, student-athlete support and private fundraising will remain with the university. Athletics facilities will continue to be owned by the university.

The company’s board will be chaired by Utah Athletics Director Mark Harlan. Matt Webb, a sports business executive with two decades of experience in professional franchises, will serve as chief executive officer and manage day-to-day operations alongside a newly established executive leadership team. That team’s collective resume highlights include working with the New Orleans Saints, Miami Dolphins. Arizona Cardinals, LA Clippers, Kansas City Royals, Cleveland Browns, San Diego Padres, and NASCAR.

“We were intentional about choosing a strategic capital partner in Otro Capital, a firm that brings financial resources and relevant operating experience, which is reflected in their ability to attract a top-tier management team,” said Harlan in the statement. “We are pleased to be able to bring into this enterprise the exceptional operating experience of Otro Capital’s team, combined with our tremendous Utah Athletics staff to form a joint venture that builds the university brand and brings out its best.”

Crimson Brand Partners was created to help maximize the long-term value of Utah Athletics while advancing the university’s broader mission, Harlan said. He expects the new company to boost the core, revenue-generating programs of Utah Athletics and position the university to strengthen support for women’s and Olympic sports.

Crimson Brand Partners officially begins operations at the start of the fiscal year on July 1. The company will operate under the oversight of the university’s foundation and its own board, and in close coordination with university leadership and trustees. The company will report annually to the university’s foundation and the Board of Trustees.

University of Utah Athletics is comprised of 19 sports programs: baseball, men’s and women’s basketball, women’s cross country, football, men’s golf, gymnastics, men’s lacrosse, men’s and women’s skiing, women’s soccer, softball, men’s and women’s swimming and diving, men’s and women’s tennis, women’s track & field (indoor and outdoor), and volleyball.

Stabilizing athletics funding through the new company is intended to reduce the prospect of long-term debt, remove pressure to cut less-profitable programs and help secure the future of women’s and Olympic sports at Utah.