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Texas Is Taking Back the State Highway 288 Tollway—at a Steep Price

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Texas Is Taking Back the State Highway 288 Tollway—at a Steep Price


The Texas Department of Transportation (TxDOT) is set to take back ownership of the State Highway 288 tollway, one of the state’s most expensive privately built toll roads, which connects Houston to its southern suburbs. This action will terminate a 52-year agreement, originally set to end in 2068, for the Blueridge Transportation Group (BTG) to build and operate the tollway—a 10-mile stretch running from an intersection just south of downtown Houston to the Brazoria/Harris County line—that was built in the median of the publicly owned State Highway 288.

The buyback comes with a hefty price tag. 

BTG, a consortium of international private infrastructure development firms, paid up-front for about a third of the billion-dollar tollway construction project, with the remaining two-thirds coming primarily through federal and state-backed debt. TxDOT is exercising a right to retake the tollway enshrined in the original agreement, but doing so requires paying BTG some $1.7 billion—on top of what the firms already raked in through tolls, construction contracts and selling shares in the project. The money from TxDOT will more than cover the $650 million debt that BTG still owes.

But Texas taxpayers and drivers will be left holding the bag, paying off the tollway for many years to come. In May, TxDOT formed the Texas Transportation Finance Corporation in order to take out a loan of $1.7 billion from TxDOT to acquire the tollway—with the plan of paying back the debt with future toll revenues. 

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The 288 toll road has long been controversial—in no small part because of its high cost both in terms of fees and human lives. Since the tollway opened in November 2020, toll rates have increased by sixty percent, going from $11 for the full 20-mile round trip during peak hours to $29 dollars now. 

“We’re trying to get in a position where we can control that and have more reasonable rates.”

Last November, the Texas Observer revealed how the state allowed BTG to profit from the 288 tollway at the expense of both drivers forced to pay exorbitant rates and construction workers who were injured, or died building the tollway. Twenty-one-year-old Juan Simental fell 85 feet to his death in June 2019 after his employers failed to provide the appropriate safety lanyard. Dozens of other workers experienced severe injuries, reporting that there was no one monitoring safety conditions, no flagger or spotter, and no safety training. 

TxDOT rejected BTG’s offer to renegotiate the contract. In an August press release, Lieutenant Governor Dan Patrick said, “We will provide meaningful relief for Texas drivers along this corridor. Securing a more than $4 billion asset for just $1.7 billion will not only benefit Texas drivers, it will also enable TxDOT to continue investing in and advancing crucial roadway projects across the state.” Patrick did not respond to requests for an interview for this story.

Texas Transportation Commission Chairman Bruce Bugg Jr. called the buyback “a big win for taxpayers,” stating in the press release that the buyback would allow the agency to cut rates by half “as soon as possible” and add more free lanes. SH 288, also known as the South Freeway, is a major hurricane evacuation route, and some exits serve the Museum District and the Texas Medical Center.

TxDOT inked its original agreement in 2016 with BTG, which consisted at the time of six equity members including ACS Group (based in Spain), Shikun & Binui (Israel), and InfraRed Capital Partners (Britain). Last year, ACS Group acquired BTG in its entirety. 

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In response to the Observer’s request for comment, BTG spokesperson Alan Goss said, “We are deeply disappointed by TxDOT’s decision to expedite the purchase of the SH-288 toll road without fully considering the significant concessions we offered for motorists.” 

The companies have already profited handsomely from the tollway mainly through deals with their construction subsidiaries and through toll revenues. In annual reports, ACS Group reported the tollway earned $74 million in 2022 and $97 million in 2023, though BTG has refused to disclose its entire take. Based on invoices obtained by the Observer, during construction from 2016 to 2020, BTG paid $815 million to subsidiaries of the same firms—Dragados USA and Pulice Construction, owned by ACS Group, and Shikun & Binui America, the three of which formed a joint venture called Almeda Genoa Constructors. 

Despite reports of construction-related deaths and injuries related to Almeda Genoa Constructors, the venture continued to receive new TxDOT contracts, now totaling at least $4.9 billion for at least 24 projects since 2016, according to state records.

Even with all those profits, the equity firms making up BTG have so far repaid little of their debts, some of which were financed by public agencies and taxpayers, according to credit reports and experts interviewed by the Observer. For the $1.1 billion-construction phase, TxDOT contributed $17.1 million to the 288 tollway project, the U.S. Department of Transportation loaned $357 million to the companies under the Transportation Infrastructure Finance and Innovation Act (TIFIA), and the Texas Private Activity Bond Surface Transportation Corporation, a finance arm of TxDOT, issued a $273 million tax-exempt private activity bond to BTG. 

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Sandro Scenga, a spokesperson for the national credit rating agency Fitch Ratings, told the Observer that BTG still owes all $273 million in bonds and $378 million on the TIFIA loan, which is anticipated to be paid off after the company receives compensation from TxDOT for the early termination of the agreement. 

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Between August 2022 and March 2023, ACS Group bought out the five other BTG equity partners, generating hundreds of millions in profits for those companies. Then, last December, ACS Group sold a 57 percent stake in BTG for $1.5 billion to Abertis, a company that is half owned by ACS Group. The move generated $200 million in capital gains, according to ACS Group’s 2023 annual report.

In an interview, Rosemary Batt, professor at the Cornell University School of Industrial and Labor Relations and author of Private Equity at Work: When Wall Street Manages Main Street, explained that ACS Group operated the tollway like most private equity firms operate any company: invest a scant amount, accumulate debts, and siphon as much profit as possible before getting out without assuming liability for the company’s long-term debt. 

“The debt is leveraged on the company, and then they try to recoup the money in about a five-year period,” Batt said, adding that private equity companies generally invest little to get a higher rate of return when they sell. “If I buy something for 100 million and then sell it later for 200, then my return on my own equity is two to one, right? But if I only put in 50 and then I sell it for 200, my reported return on equity is four to one.” 

Unlike public corporations which generally operate companies with about 70 percent equity and 30 percent debt, the ratios are typically reversed for private equity companies, Batt writes in her book. 

Batt said that ACS Group most likely bought and sold 288 tollway shares so it could return more earnings to shareholders within the typical five-year funding cycle. “It may be because they waited until year seven, a company might be more valuable and they would get higher returns, which would go to the investors. But if they need to sell something in year five, they sell it often to another private equity firm. So there’s a lot of horse trading that happens.”

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Seemingly, months before the Texas Transportation Commission decided to initiate the process to terminate the tollway lease, ACS Group was already on its way out. At the end of 2023, ACS Group announced to its shareholders it would be selling off another 22 percent of its shares. 

The Spanish firm has constructed and operated more than 130 public-private infrastructure  projects worldwide since 1967. It took in a net profit of $867 million last year, and its largest market now is in North America. 

ACS Group did not respond to a request for comment for this story by publication time and has previously referred requests about the 288 tollway to BTG.

These days, private-public partnership tollways have fallen out of favor with Texans. The SH 288 tollway was the last from former Texas Governor Rick Perry’s initiative to build private tollways statewide. Others included the LBJ-635 Express Corridor, the North Tarrant Express, and State Highway 130 in Central Texas. 

GOP state Senator Robert Nichols told the Observer that TxDOT turned to leasing out public highways for private tollways when the state did not have enough revenues to build new roads. Now, the situation is different, he says. “Now that we’ve got money to build highways … we’re kind of getting away from that. We’re trying to get in a position where we can control that and have more reasonable rates.”

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In 2013, Nichols carried a bill to limit the state toll road buyback price to a set amount based on the number of contract years elapsed instead of market rate. That bill became law; otherwise, TxDOT would be paying much more than $1.7 billion to buy back the 288 tollway today. 

TxDOT did not respond to the Observer’s question about whether the Texas Transportation Finance Corporation, newly formed to engage in the “acquisition, construction, maintenance, or operation of a toll facility,” will be buying back any other privately owned tollways around the state. 



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Georgetown running back Jett Walker flips to Texas

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Georgetown running back Jett Walker flips to Texas


The Texas Longhorns are hoping to make a few waves in the last days before Early Signing Day, with Georgetown running back Jett Walker flipping his commitment from the Minnesota Golden Gophers

The Longhorns looked to add another running back to the class, and despite the late offer and visit, were able to add the Georgetown product to the class. Walker reported 20 offers, but seemingly focused his recruitment on West Virginia and Houston, visiting both during the summer visit window. Earlier in November, Walker visited with P.J. Fleck and the Golden Gophers, committing shortly after his visit. However, the Longhorns entered the race just three weeks later and after a visit to the Forty Acres, he was ready to flip.

The 6-foot-2, 215-pound back was highly productive during his two years with the Eagles, rushing for 3,837 yards and 61 touchdowns in his junior and senior campaigns. Before moving to Georgetown, he played varsity as both a freshman and sophomore at Lampassas, rushing for more than 2,000 yards and 23 touchdowns.

Walker is commitment No. 22 for the class, joining four-star back Derrek Cooper in Chad Scott’s group for the 2026 cycle. Both backs fit the larger body type that head coach Steve Sarkisian and Scott have favored in recent years, with Walker looking like a downhill runner with good contact balance that could make a difference in short-yardage situations.

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Walker was not alone on his trip to the Forty Acres for the Longhorns’ win over Arkansas, as the Longhorns look to add a few more key pieces as the cycle concludes.



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Defiant GOP congressman rejects push by party bosses to drop out of Texas primary, scrambling race for Senate majority | CNN Politics

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Defiant GOP congressman rejects push by party bosses to drop out of Texas primary, scrambling race for Senate majority | CNN Politics


GOP leaders in Washington are ramping up pressure on Republican Rep. Wesley Hunt to drop out of the Texas Senate race, warning that his candidacy could cost their party tens of millions of dollars and even upend their midterm map.

But a defiant Hunt told CNN in an interview that he is “absolutely” staying in the heated three-way race against long-time incumbent Sen. John Cornyn and firebrand Texas Attorney General Ken Paxton, even as senior Republicans accuse him of being a “spoiler” in the race that is now all but certain to lead to a costly runoff.

Hunt, a 44-year-old combat veteran and two-term House member, revealed that he planned to officially file for the race this week, setting aside weeks of GOP speculation about whether he would continue with his insurgent Senate campaign or opt to stay in his Houston-area seat instead.

“If Senate leadership does not like me being in this race, you know what I say? Good, because Senate leadership does not pick the leadership in Texas,” Hunt said, insisting that he is the only candidate who can win both the primary and the general election without costing “hundreds of millions of dollars.”

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“This is like a David and Goliath kind of story. I have a couple of smooth stones to throw at him, but guess what? They are very effective,” Hunt said, arguing the base is not with the 73-year-old Cornyn, who has held his seat since 2002.

“The people of Texas are looking for an alternative, and it’s absolutely my job to give them one,” Hunt said.

Like Paxton, Hunt is a MAGA loyalist and courting the endorsement of President Donald Trump, who has been lobbied hard by Senate Majority Leader John Thune and other top Republicans to clear the field for Cornyn. But multiple people familiar with the matter have said Trump is unlikely to endorse in the coming weeks – and could wait to choose a candidate until a clear favorite emerges ahead of the March 3 primary.

But that would amount to a huge gamble for Trump. If no candidate wins an outright majority in the primary, then the top finishers would battle in another expensive clash two months later: A May 26 runoff election.

With Hunt in the race, the chances of one candidate winning an outright majority in March are much dimmer.

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Plus, there’s real fear that the candidates would be badly battered through months of a grueling primary and runoff – and could give Democrats a shot to pull off an upset in Texas, something the party hasn’t done in a statewide race since 1994. And Democrats are salivating at the prospect of facing Paxton, who has weathered scandals in the state including an impeachment effort just two years ago.

Cornyn warns that the additional months of a campaign would siphon away tens of millions of dollars that could be spent in other states Republicans must win in order to keep the majority.

“He can’t win, so this could well be the end of his political career if he decides to make this race, and he may be thinking about that,” Cornyn told CNN, referring to Hunt’s decision to run for his seat.

Hunt, for his part, brushed off his opponent’s criticism. “I have survived combat. I flew 55 combat air missions in Baghdad. The end of my political career – I’m still alive and well.”

And, Hunt added, “at the end of the day, I am not going to be a 30-year guy that’s hung around the hoop for this long and not pass the mantle on to somebody else when it’s time for you to go.”

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“The United States Senate is not a retirement community,” he said.

The increasingly nasty barbs between Hunt and Cornyn have created an unusual dynamic in the three-man race. Paxton — who remains in a virtual tie with Cornyn in a recent poll — has largely stayed on the sidelines while Hunt and Cornyn largely begin to pummel each other. Paxton has spent only $1 million on the race through September 30, compared to Cornyn’s $3.5 million and Hunt’s $2.3 million, according to fundraising data filed for the most recent quarter.

And Hunt sidestepped criticisms of Paxton, who has made headlines over issues like a messy divorce and for reportedly claiming three houses as his primary mortgage.

“I’m not getting in people’s personal lives because that’s just not how I roll,” Hunt said when asked about Paxton.

Paxton declined an interview with CNN through a spokesman.

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The stakes of the Senate battle are high, with GOP leaders planning to spend as much as it takes to back Cornyn through both a primary and a runoff, according to multiple people familiar with the internal discussions.

Pro-Cornyn groups have dominated the air waves so far: Cornyn-aligned outside groups have spent roughly $40 million out of the $52.5 million total spent on ads in the GOP primary as of last week, according to figures compiled by the ad-tracking service AdImpact.

Many Cornyn allies are furious at Hunt’s refusal to bow out, arguing that money spent to boost Cornyn so far could be much better spent in battleground contests like North Carolina or Michigan in a midterm environment that’s likely to favor Democrats. For Democrats to win the Senate, they’ll need to pick up four seats, meaning they’ll have to hold every one of their own seats while picking up at least two in red states – with one of them potentially Texas, where they have their own messy primary to navigate.

One Cornyn supporter involved in the race said their allies see Hunt as a “spoiler” adding unnecessary stressors to the race. The person added that Hunt has been told repeatedly, “including by very senior Republicans,” to bow out of the race because, they say, he has no path to victory.

But Hunt says that communication has never come from inside Trump’s orbit. Pressed on whether he has ever been discouraged from running by someone in the White House, Hunt said: “Nobody has told me a word.”

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Trump remains the biggest factor in the race.

Behind the scenes, Cornyn and top GOP Senate leaders have stepped up efforts in recent weeks to win over Trump and convince him to endorse as soon as possible. At a recent breakfast at the White House, Cornyn and Thune again made the case to Trump that he has closed the gap in polling after initial polls showed the incumbent senator trailing Paxton by wide margins in the primary, according to multiple people familiar with the exchange.

During his last conversation with Trump, Cornyn echoed what GOP leaders have also stressed to Trump: it could save a lot of money for other key races.

“We’ll spend a lot of money that could be spent more productively elsewhere,” Cornyn said, when asked about his message to the president. “If I’m at the top of the ticket in November, chances are that it will help down ballot races including these congressional seats that are now in litigation. So I think it’s in the president’s best interest, and that’s what I’ve explained to him.”

It’s not Cornyn’s only overture to the president. He also recently made a huge break in his own long-time stance on eliminating the filibuster to align more closely with Trump’s views. Cornyn, so far, has made the most outward efforts to secure that Trump endorsement, with weeks of flattering tweets and shifting of some positions that have caught the attention of many Trump’s allies.

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Thune and the Senate campaign chief, Sen. Tim Scott, have also repeatedly made Cornyn’s case to Trump, according to people familiar with the discussions. And Thune has personally helped with Cornyn’s fundraising operation, traveling to Texas last week and phoning donors to secure more support, another person said.

Multiple people close to Paxton, however, believe he is in the strongest position for Trump’s endorsement, if, or when, the president decides to choose a side.

“It ends the race for us the moment it comes out. But him staying out of the race is good for us too. And it’s pretty fatal for Cornyn,” one person close to Paxton told CNN.

Allies of both Hunt and Paxton told CNN that their campaigns are keeping in close touch with the White House. Both campaigns are regularly sending internal polling to Trump’s advisers, according to multiple people familiar with the outreach. This summer, Paxton even flew to Scotland for a brief interaction with Trump at his new golf course, as CNN previously reported.

“He’s following the polling very closely,” Cornyn said of Trump, after speaking with the president in late October about the race.

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“I just confirmed what he already knew, which is that we were now essentially in a tie with Paxton. And now with Wesley Hunt in the race, he’s looking for us to continue the trend and to show that we’re likely going to be the winner in the primary,” Cornyn said. “As he and I have discussed, if he were to make an endorsement, the primary would be over. But he’s not ready to do that yet.”

Asked if he would drop out of the race if Trump endorsed Cornyn, Hunt made clear he wasn’t going anywhere.

“Donald John Trump’s endorsement is absolutely incredible in any Republican primary in this great nation, but I’m sorry you cannot revive that dead campaign,” Hunt said of Cornyn’s bid. “Not even Donald Trump can do that, in my humble opinion. So that’s why I got in this race, to give him an option.”

Hunt and Paxton have both sharply criticized Cornyn for his complicated relationship with Trump. The GOP incumbent has rarely broken with Trump on a key vote and — as the former Senate GOP whip — helped pass Trump’s marquee tax cuts bill during his first term.

In recent years, however, Cornyn has angered MAGA loyalists for certain remarks about Trump, including his reaction to the January 6, 2021, riot at the US Capitol when Cornyn called the president’s language that day “reckless.” (Cornyn ultimately voted to acquit Trump during the Senate’s impeachment trial on the matter, unlike his fellow GOP senator facing a brutal primary next year, Sen. Bill Cassidy.)

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The senior Texas senator patched up ties with Trump during his 2024 reelection bid. But many hard-right Republicans took notice when Cornyn cut deals with then-President Joe Biden over a pricey bill designed to shore up the US chip-making industry over foreign rivals, as well as a gun safety bill that Cornyn personally shepherded through Congress after a deadly elementary school shooting in Uvalde, Texas, in 2022.

Hunt has repeatedly hit Cornyn for those past votes. Cornyn, meanwhile, has attacked Hunt on another matter: Missing votes in Congress altogether, accusing him of missing more than a quarter of House votes just this year.

The junior House member chalked up his absences, in part, to his son’s time in the NICU when he first came to Congress and, later, his time as a Trump surrogate, criss-crossing the country to speak at rallies and meet with voters in the 2024 race.

Asked about his missed votes this year, Hunt pushed back.

“Are we going to really talk about missed votes? I mean, what is this elementary school? I mean, what do I get a certificate for showing up to work and voting on naming another post office after Sacagawea?” a fiery Hunt said.

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His retort to Cornyn: “Maybe you should have missed more votes,” criticizing his voting record.



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Texas A&M Up Big Against Samford At Halftime

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Texas A&M Up Big Against Samford At Halftime


The No. 3 Texas A&M Aggies entered the morning hosting a non-conference game against the Samford Bulldogs in College Station, Texas, at Kyle Field. 

Coming off an illustrious comeback win against South Carolina, A&M was much more fired up in the first quarter, getting off to a much faster performance compared to what it did a week ago in front of the 12th Man, where every fan was holding its breath that the offense could pull it together. 

Going into intermission, the Aggies hold a 31-0 lead against the Bulldogs in a one-sided offensive thriller. 

Major headlines in the first half include the wide receivers jumping out to a terrific start, where redshirt freshman Ashton Bethel-Roman and junior WR KC Concepcion continued to pile up yards, which helped Heisman-caliber quarterback Marcel Reed make a case to be the leading candidate with 120 yards and three touchdowns. 

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Running back Amari Daniels also culminated his best game, breaking his highest rushing game of the season and recording his first touchdown of the year. He accumulated 106 yards off nine attempts.

Amari Daniels getting a handoff.

Nov 30, 2024; College Station, Texas, USA; Texas A&M Aggies quarterback Marcel Reed (10) hands the ball off to running back Amari Daniels (5) in the first quarter of the Lone Star Showdown against the Texas Longhorns at Kyle Field. Mandatory Credit: Sara Diggins/USA TODAY Network via Imagn Images / Sara Diggins/USA TODAY Network via Imagn Images

Anytime a powerhouse program takes on a smaller football program, there are often issues for the school with fewer recruits and fewer playmakers to make many stops on defense. Reed embarrassed the Bulldogs’ defense, chunking the ball everywhere with a ton of opportunities for his weapons to amass several receptions and yards on a cool morning.

On the first drive, he did that when he found ABR, who posted the first score for the Aggies on a spectacular 3-yard touchdown catch in the corner of the end zone. Setting up that score was senior RB Amari Daniels, who had 39 yards on three rush attempts.

Concepcion showed off his crafty route-running and ability to rack up yards after the catch, combining for 42 yards. On the third drive, Concepcion slipped up after dropping a pass from Reed that hit him on the fingertips, but he responded with a slant route in the end zone for a 6-yard score.

The Missouri City, Texas, native recorded only two receptions for 61 yards and continued to get reps on the field, which will benefit chemistry with his QB going into the game against Texas. ABR posted his second score of the morning on a 58-yard shot downfield from Reed that extended the lead to 21-0.

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Offensive coordinator Collin Klein dialed up a fair number of play calls to get the running backs involved, and several possessions featured big chunks of yardage. Last week against South Carolina, the group gained only 64 yards, so it was a significant improvement from the start.

Daniels ended up commanding the ground game, where he tallied a majority of the touches with an explosive 41-yard run on the fifth offensive drive, which set him up to barrel into the endzone on the 1-yard handoff.

After coach Mike Elko saw enough from his offense, Reed’s day concluded as he watched the rest of the half from the sidelines. Redshirt freshman QB Miles O’Neil entered under center for two drives, tossing six yards off four passes before freshman QB Brady Hart ran the offense for the rest of the first half.

Albert Regis pressuring a quarterback.

Nov 22, 2025; College Station, Texas, USA; Texas A&M Aggies defensive tackle Albert Regis (17) pressures Samford Bulldogs quarterback Quincy Crittendon (2) in the first half of a game at Kyle Field. Mandatory Credit: Joseph Buvid-Imagn Images / Joseph Buvid-Imagn Images

A&M’s defense had no problems running right through the Samford offensive line, which attempted to protect the QB, Quincy Crittendon. There were only a couple of possessions that the tacklers let the 1-10 Samford team gain a few yards and move the ball downfield. 

On third down conversion, the Aggies held the Bulldogs to go 0-for-8. That has been one of the brighter spots for this defense, which has found a ton of success throughout the season. No first downs were recorded either. That was a positive area holding the Bulldogs to -2 passing yards. 

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In the air, the secondary held Samford to no positive yardage with a dominant performance from the cornerbacks. Senior Tyreek Chappell had one pass breakup in the endzone, getting nearly intercepted, which contributed to forcing a three-and-out. 

Safety Marcus Ratcliffe also contained the big plays from being allowed a week ago against the Gamecocks, with two back-to-back tackles on Samford’s third drive, where one of them stopped a busted play. 

In the ground game, the Samford RBs had only 27 yards, courtesy of a brick wall kit that they were running into. Protection wasn’t powerful, as freshman defensive end Marco Jones led the team with five total tackles.  

The second half of the game at Kyle Field will continue shortly on SEC Network+.



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