With 9 wins and 5 losses, Howard University occupied third place in college basketball in the Mid-Eastern Athletic Conference during the 2023-24 season. The Bison haven’t made the progress that was expected of them for some years. And hence, their head coach Kenny Blakeney has come up with a new proposal that the university hasn’t vetted until now.

Blakeney plans to sell one-third of the stake in the program to private firms. This could help raise the capital necessary for the development of the program, as per Blakeney.

Why is Kenny Blakeney trying to sell a stake to equity firms?

As mentioned, Blakeney has drafted a plan to sell one-third of the university’s stake and gain $100 million. As per reports, he had met with potential investors in June and also spoke with them regarding his proposal in July. The aim behind this is to not let the program be “left behind” in college basketball.

As per Blakeney’s plans, he wants around $100 million to improve the arena at the prestigious university. Plus, more investment from private investors will give Blakeney a chance to recruit top talent. With this, he will improve their standings and then either go independent or join a bigger conference. The 52-year-old wants to renovate the Burr gym and spend some money on the Name, Image, and, Likeness deals which can help him secure a better roster.

With the passing of a new antitrust lawsuit settlement, players can be compensated directly for their activities which can be around 22% of the revenue from the media rights and sponsorships. He hinted at the possibility of the NCAA tournament not including every school. Therefore, he wants to make his time at Howard worthwhile. But, that’s not how the other school authorities think.

What do Howard University authorities have to say about Kenny Blakeney’s plans?

As per athletic director Kery Davis, Blakeney’s efforts are a reflection of his “own personal ideas.” According to him, Blakeney has been terrific in securing them a place in the NCAA D1. The University has “secure(d) sponsorships and gifts that have tremendously helped our 21 Division I teams.” But as of now, the University hasn’t vetted any of his proposals. Yet Blakeney has different ideas.

Meanwhile, Blakeney is not the only person demanding such changes. Even the Big 12 was in talks with a private equity firm for a 15%-20% stake. Similarly, Florida State has also had conversations with equity firms to see if there is a chance of departure from the ACC. As per Blakeney, they just seem to be “at the beginning of it,” hinting that a lot of colleges might replicate his moves in the years to come. With growing NIL deals and the rampant transfers happening in the college basketball leagues, “there has to be some conversations.”

Hopefully, Howard will be able to switch tracks in the coming NCAA season despite accepting or rejecting Blakeney’s suggestions. As for Blakeney, who knows if he might secure an exceptional deal? But is this the future of college basketball? Let us know in the comments below.

Stay tuned for more such updates and join us for the exciting second episode of the “Dual Threat Show” as our host BG12 sits down with Georgia Bulldogs star and Mountain West All-Freshman Team Selection, Asia Avinger.