TPG to Acquire Learfield, the Leading College Sports Media Sales and Technology Provider

DALLAS & SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--TPG, a leading global alternative asset management firm, today announced the signing of a definitive agreement to acquire Learfield, the nation’s leading media and technology company powering college athletics.

Learfield is one of the largest at-scale commercial platforms in global sports. The company serves as the monetization engine for collegiate sports intellectual property (IP), linking more than 12,000 brands and over 1,200 institutions with an integrated suite of sponsorship and media solutions, ticketing technology, licensing management, name, image, and likeness (NIL) strategy, and AI-enabled data platforming. Learfield’s physical and digital solutions are powered by a proprietary dataset informed by more than 125 million fan records, serving NCAA Division I institutions and the majority of institutions across the ACC, Big Ten, Big 12, and SEC conferences.

“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,” said Cole Gahagan, President and CEO of Learfield. “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.”

The partnership will provide Learfield with additional capital and resources to accelerate growth and innovation across its integrated platform, including sports sponsorships, ticketing (Paciolan), website and mobile app (SIDEARM Sports), and licensed merchandise division (CLC). TPG will invest in Learfield through TPG Capital, the firm’s U.S. and European private equity platform, and TPG Sports, the firm’s dedicated investing business focused on partnering with leading companies and platforms shaping the future of sports.

“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,” said Peter McGoohan, Partner at TPG. “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,” said Kris Wong, Business Unit Partner at TPG.

TPG is one of the most experienced private equity investors in media, entertainment, and sports, with investments that have included Creative Artists Agency (CAA), Entertainment Partners, DIRECTV, Fandom, Musixmatch, Spotify, and Troon, among others. In 2025, the firm launched TPG Sports in partnership with Rory McIlroy, Sean O'Flaherty, and their team at Symphony Ventures to bring the firm’s signature transformation-oriented private equity approach to sports investing.

Charlesbank Capital Partners will remain a minority investor in Learfield and continue its long-standing partnership with the company. Learfield’s other investors will exit their stakes as part of the transaction, which is expected to close in the third quarter of 2026, subject to customary approvals and closing conditions.

Evercore acted as lead financial advisor to TPG. The Raine Group also acted as financial advisor to the firm. Ropes & Gray LLP and Mintz served as legal counsel to TPG. Moelis & Co LLC acted as the lead financial advisor to Learfield, and BofA Securities also acted as financial advisor to the company. Davis Polk served as the company’s legal counsel.

About Learfield

Learfield is the leading media and technology company powering college athletics. Through its digital and physical platforms, Learfield owns and leverages a deep data set and relationships in the industry to drive revenue, growth, brand awareness, and fan engagement for brands, sports, and entertainment properties. With ties to over 1,200 collegiate institutions and over 12,000 local and national brand partners, Learfield’s presence in college sports and live events delivers influence and maximizes reach to target audiences. With solutions for a 365-day, 24/7 fan experience, Learfield enables schools and brands to connect with fans through licensed merchandise, game ticketing, donor identification for athletic programs, exclusive custom content, innovative marketing initiatives, NIL solutions, and advanced digital platforms. Since 2008, it has served as title sponsor for the acclaimed Learfield Directors’ Cup, supporting athletic departments across all divisions.

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $303 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.