Everyone is talking about the $2 billion dollar price tag, but no one is talking about the 'Exit'. TPG didn't just buy a media company, they bought the infrastructure for the next 50 years of college sports.

Mike Chaudron breaks down the sophisticated PE to PE trade from Atairos/Fortress to TPG and reads the predictive analysis from Chapter 23 of his book, "Agent Confidential" that saw this coming before the deal was ever signed.