The U.’s board of trustees will vote on the matter Tuesday.

Facing rising costs in college sports, the University of Utah hopes to put the future of its athletics department’s finances in the hands of a new for-profit company backed by a private equity firm.

The U.’s board of trustees will vote Tuesday on whether to approve the deal involving New York private equity firm Otro Capital.

The proposal calls for the creation of Utah Brands & Entertainment, a company to oversee the athletics department’s revenue sources. Otro Capital would be the minority owner of Utah Brands and handle operations such as ticket sales, media, stadium events, concessions, and trademark and licensing matters.

The U., through its nonprofit University of Utah Growth Capital Partners Foundation, would have majority ownership of the company and Utah Athletic Director Mark Harlan would serve as the chairman of its board. The athletics department would continue to oversee student athletes and their scholarships, coaches, fundraising and NCAA compliance.

Otro describes itself as a company with “deep expertise across sports, entertainment, and media.”

University officials have declined to say how much Otro Capital plans to initially invest because the deal has not been finalized. Yahoo! Sports reported the partnership could bring in more than $500 million in revenue. The U. expects the deal to be completed early next year.

Private equity investors have zeroed in on college athletics in recent years.

In the wake of the House vs. NCAA settlement, colleges can now pay their student athletes up to $20.5 million annually.

That has contributed to significant deficits at schools around the country. Last month, the University of Colorado projected a $27 million deficit for its athletics program. Earlier this year, Ohio State University claimed a $37.7 million deficit.

The Tribune will update this developing story.

Beth Launiere, the longest-tenured volleyball coach in Utah history, has retired, the school announced Monday.

Over 36 years as Utah’s coach, Launiere amassed 689 wins and took Utah to the NCAA tournament 20 times.

With Launiere in charge, the Utes won six Mountain West titles and advanced to the Sweet 16 four times, most recently in 2019.

“After 36 years as the head volleyball coach at the University of Utah, I have made the difficult decision to announce my retirement,” Launiere said in a school press release.

“While it is not easy to walk away from a lifetime’s work, I am ready and excited to begin the next chapter of my life. Thank you to the hundreds of players whom I have had the privilege to coach, and the many assistant coaches, support staff and administrators who were my daily collaborators to build this program into what it is today.

“I will miss the daily interactions, but I know our relationships will last a lifetime. It has been an honor to represent one of the greatest universities in the country. I will forever love Utah and will always be a Ute!”

Utah was ranked in the AVCA Coaches Top 25 poll for 183 weeks under Launiere’s leadership, and the program produced 16 All-Americans.

During her 36-year career at Utah, Launiere was rewarded with three Mountain West Conference Coach of the Year awards and one Pac-12 Coach of the Year award in 2019.

In her final season, Launiere and the Utes made the NCAA Tournament, finishing the season with a 15-15 record with wins over No. 23 BYU and No. 13 Kansas before losing to the University of Northern Iowa in the first round of the NCAAs.

Launiere will leave a lasting legacy as the volleyball program’s greatest coach.

Utah athletic director Mark Harlan wasted no time naming her successor, appointing Alyssa D’Errico as the sixth head coach in program history.

“Alyssa D’Errico is a tremendous identifier of talent and is elite in developing student-athletes and building genuine relationships,” Harlan said. “With her championship pedigree, All-America playing experience, and the three years she has spent at the University of Utah as associate head coach, she is uniquely equipped to take over leadership of our volleyball program.

“I’m thrilled to appoint Alyssa as our new head coach, and excited to see her establish herself as this program’s leader, building on the legacy that Beth Launiere has built.”

D’Errico is a three-year assistant of Launiere’s, joining the program ahead of the 2023 season.

“I want to sincerely thank Mark Harlan, Charmelle Green and Jason Greco for their trust and support in giving me this opportunity to lead Utah volleyball,” said D’Errico in a press release.

“Of course, I also must thank Beth Launiere. I am deeply grateful to Beth for bringing me out here to be a part of this incredible volleyball program and athletic department. Her countless contributions to our sport, her care for the athletes, and the legacy she leaves behind are inspiring — truly leaving the program better than she found it.

“As I step into this role, I am honored and energized to help guide our program into the next era, with new heights in sight and a strong vision for sustained excellence. I look forward to building on our foundation, elevating our competitive standard, and fostering a culture where our student-athletes thrive on and off the court.”