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The Future of College Sports Commercialization

Posted on June 3, 2026 By Two Circles

As revenue models evolve, athlete compensation becomes a reality and commercial expectations continue to rise, many institutions are asking the same question: are we organized to succeed in the next decade?

At Two Circles, we’ve spent the last several months analyzing how athletic departments are approaching commercialization today – where the biggest opportunities are, and where the challenges lie ahead.

Our central hypothesis: the schools best positioned to thrive won’t be those with the biggest budgets or the most outsourced partnerships. They’ll be the ones that treat commercialization as a core organizational capability.

This is Part 1 of a three-part series, Nick Garner, Zack Sugarman and Doug Bell explore how leading programs are structuring their commercial operations, where revenue opportunities are being left on the table, and what organizational models may define the next generation of success.

Download the full report here.

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