Utah Athletics begins layoffs as it prepares for private equity transition

Utah Athletics has initiated a "reduction in force" as it transitions to a new publicly traded entity, Crimson Brand Partners. Employees affected by the layoffs received notices on Friday, with the expected official separation date set for June 30. This restructuring is part of Utah's private equity deal with Otro Capital, which aims to address financial challenges in the athletic department. The deal is the first partnership of its kind between a university athletic department and a private equity firm. Details about the number of positions affected and the rehiring process remain unclear, as the department prepares for the changes ahead.

• 6:28 PMYahoo Sports — Utah Athletics undergoes ‘reduction in force’ as it progresses to private equity deal finalization