Prohibiting certain private equity and sovereign wealth fund agreements in intercollegiate athletics.

SB 6235 prohibits Washington state public universities from entering agreements with private equity firms or foreign government investment funds that transfer revenue rights, ownership stakes, or control over athletic programs. The law bans deals where these entities gain profit shares, influence scheduling/hiring, or control media/sponsorship revenue streams - such as ticket sales, broadcasting, or licensing. Allowed exceptions include standard sponsorships without revenue sharing, charitable gifts, and tax-exempt bond financing. Universities must annually report compliance to the legislature and disclose any permitted agreements.