S.Amdt. 6820

SA 6820. Mr. BLUMENTHAL submitted an amendment intended to be
proposed to amendment SA 6776 proposed by Mr. Thune (for Mr. Cruz (for
himself, Ms. Cantwell, Mr. Schmitt, and Mr. Coons)) to the bill S.
4668, to protect the name, image, and likeness rights of, and provide
protections for, student athletes and to promote fair competition among
intercollegiate athletics, and for other purposes; which was ordered to
lie on the table; as follows:

After section 114, insert the following:

SEC. 114A. KEEPING PRIVATE EQUITY OUT OF INTERCOLLEGIATE
SPORTS.

(a) Definitions.--In this section:
(1) Foreign sovereign wealth fund.--The term ``foreign
sovereign wealth fund'' means an investment fund owned or
controlled by--
(A) a foreign state or an agency or instrumentality of a
foreign state, as such terms are defined in section 1603 of
title 28, United States Code; or
(B) an agent of a foreign principal, as defined in section
1 of the Foreign Agents Registration Act of 1938, as amended
(22 U.S.C. 611).
(2) Private equity firm.--The term ``private equity firm''
means any of the following:
(A) A hedge fund or private equity fund, as such terms are
defined in section 13(h) of the Bank Holding Company Act of
1956 (12 U.S.C. 1851(h)).
(B) A private fund, as defined in section 202(a) of the
Investment Advisers Act of 1940 (15 U.S.C. 80b-2(a)).
(C) An investment adviser, as defined in section 202(a) of
the Investment Advisers Act of 1940 (15 U.S.C. 80b-2(a)),
that advises a fund described in subparagraph (A) or (B).
(b) Prohibition on Private Equity Firms and Foreign
Sovereign Wealth Funds.--An institution, conference,
intercollegiate athletic association, or collective shall not
enter into, maintain, or permit any agreement (including
through a joint venture) with a private equity firm or a
foreign sovereign wealth fund that--
(1) transfers, assigns, pledges, or otherwise conveys to
such firm or fund any ownership, profit, or revenue interest
arising from its intercollegiate athletics program, including
media, sponsorships, licensing, ticketing, premium seating,
data, or other commercial rights; or
(2) with respect to intercollegiate athletics, grants such
firm or fund approval

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rights, voting rights, or influence over athletics decisions,
branding, rulemaking or enforcement, endorsement or financial
decisions, scheduling, personnel, or student athlete
participation.
(c) Enforcement.--A person alleging a violation under this
section may file a civil action in an appropriate district
court of the United States, or in an appropriate State court,
in the same manner and subject to the same conditions and
requirements as a civil action filed under section 119(a).
(d) Applicability.--
(1) In general.--This section shall apply beginning on the
date of enactment of this Act, except as provided in
paragraph (2).
(2) Existing agreements.--With respect to any agreement
described in subsection (b) that was entered into before the
date of enactment of this Act, this section shall apply
beginning on the date that is 1 year after the date of
enactment of this Act.
______