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[QUOTE="HRE Otto IV, post: 5520360, member: 5685"]
Does this mean that B1G expansion is over for the next 20 years? They are now dividing revenue 20 ways. Pretty much any school added would need to add $100M/y to break even for the existing schools. Notre Dame +1 would achieve that. Not many others would. I don't think UNC would alone. Unless conferences have expanded championships, then that would cover additions.

And how much will the new investor have veto power on expansion?

How the heck does the BTN fit into this? Does it become 40% owned by BTE? In which case the investor now has equity in the network? If not the investor will want the BTE to charge the BTN a good amount of money for content. The BTN currently gets content on the cheap. So indirectly the schools will need to pay more money for their own content via the BTN. They get the money back via BTE, but not all of it as the investor takes their cut.

Also if new schools are added the BTE shares would need to come from the school's and conference's equity. The investor will not reduce theirs. When you create a real company, it makes expansion so much more messy.
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