OH MY LORD It’s not that unusual for theoretically non-profit or public universities to own for-profit businesses, think patent rights marketing or Stanford Shopping Center. But basically Ohio State wants to own a professional sports team as an investment and they’ve decided a professional team branded as Ohio State is the better return than buying a stake in the Cleveland Browns. Buyer (or seller) beware, private equity cares not about your brand. They care about this quarter’s profit and maximum resource extraction, even if it destroys the business. Go ask TGI Fridays, Red Lobster, Southwest Airlines, Buzzfeed, Vice Media, and others. They thought they could find Oz by sniffing the sweet rich taint of PE and they all ended up eating dogsh*t.