TPG announced it has signed a definitive agreement to acquire Learfield, a leading media and technology company powering college athletics, in a transaction aimed at accelerating the commercialization and digital transformation of collegiate sports.
Learfield operates one of the largest commercial platforms in global sports, serving as a monetization engine for college athletics’ intellectual property. The company connects more than 12,000 brands with over 1,200 institutions through an integrated suite of solutions, including sponsorship sales, ticketing technology, licensing management, name, image, and likeness strategy, and AI-enabled data platforms.
The company’s platform is supported by a proprietary dataset of more than 125 million fan records and maintains deep relationships across NCAA Division I institutions, including the majority of schools in major conferences such as the ACC, Big Ten, Big 12, and SEC.
Through the acquisition, TPG will provide additional capital and operational resources to support Learfield’s continued growth and innovation. The investment will be made through TPG Capital, the firm’s private equity platform, and TPG Sports, its dedicated sports investment strategy focused on companies shaping the future of sports and live entertainment.
Learfield’s offerings span multiple core business units, including ticketing through Paciolan, digital platforms via SIDEARM Sports, and licensing through its Collegiate Licensing Company division. The partnership is expected to enhance these capabilities while expanding opportunities in sponsorship, data-driven marketing, and fan engagement.
TPG brings significant experience in media, entertainment, and sports investments, with prior involvement in companies such as Creative Artists Agency, DIRECTV, Spotify, and Troon. The firm also launched TPG Sports in 2025 in partnership with Rory McIlroy and Symphony Ventures to focus on transformation-oriented investments in the sports sector.
Charlesbank Capital Partners will remain a minority investor in Learfield following the transaction, while other existing investors will exit their positions. The deal is expected to close in the third quarter of 2026, subject to customary approvals and closing conditions.
Support: Financial advisors to the transaction include Evercore and The Raine Group for TPG, and Moelis & Company and BofA Securities for Learfield. Legal counsel was provided by Ropes & Gray LLP and Mintz for TPG, and Davis Polk for Learfield.
KEY QUOTES:
“Learfield is reshaping the future of collegiate athletics and live entertainment, uniting fans, brands, athletes, and universities, and growing our partners’ revenues at unprecedented levels. As commercialization trends give rise to new IP-based opportunities, we’re excited to partner with TPG to continue investing in data, media, technology, and the creative solutions that power fan engagement.”
Cole Gahagan, President and CEO, Learfield
“Learfield’s platform is catalyzing the growth of college sports by connecting thousands of premier brands to leading athletic programs, facilitating unique monetization opportunities for institutions while connecting sponsors to loyal fan bases nationwide. Through its deep network and quality offering, Learfield has positioned itself as a trusted partner to colleges across the country, and we look forward to working with Cole and the team to support the company’s next chapter.”
Peter McGoohan, Partner, TPG
“Learfield’s platform is catalyzing the growth of college sports by connecting thousands of premier brands to leading athletic programs, facilitating unique monetization opportunities for institutions while connecting sponsors to loyal fan bases nationwide. Through its deep network and quality offering, Learfield has positioned itself as a trusted partner to colleges across the country, and we look forward to working with Cole and the team to support the company’s next chapter.”
Kris Wong, Business Unit Partner, TPG
