University of California Wants to Bet $2.4 Billion on Big 10 (1)

The University of California’s investment arm wants to buy a $2.4 billion stake in a new Big Ten business venture, a move that would make the public university system a part-owner of one of college sports’ most prominent conferences.

The proposed partnership would give UC Investments a 10% share in Big Ten Enterprises, an entity to manage the conference’s media rights and sponsorship deals, according to a UC statement on Friday. The remaining 90% would be divided among the league’s 18 member schools — which include the University of California at Los Angeles — and the conference itself.

“The ...