HBCU basketball coach wants to sell piece of team for $100 million

Kenneth Blakeney has turned Howard University men’s basketball from an afterthought in HBCU basketball to an emerging mid-major player.

But, the way Blakeney sees it, winning back-to-back MEAC titles and making it to the NCAA Tournament is simply the tip of the iceberg.

Blakeney is looking for investors to his program in order to transform it. He’s devised a plan of offering a third of the program for $100 million to private equity groups and potential investors in the name of staying relevant in college basketball.

“I don’t want to have a two-tiered system where we’re not able to compete for the NCAA tournament or the national championship,” Blakeney said via the Washington Post. “And from what I’m hearing right now, that is a real possibility, that there’s going to be an NCAA tournament that isn’t going to include everyone else, it’s just going to include those Power Four universities and maybe the Big East. That’s not what I signed up for.”

Blakeney has devised a three-way revenue split with the investors, school, and program all getting a third. The money would be used to upgrade the team’s arena and practice facility, including getting naming rights, as well as pay players. It would also leave the MEAC and potentially go independent or go to join a bigger program.

Kenny Blakeney’s tenure at the Washington, D.C. HBCU has been transformative for the basketball program. His leadership has turned the team into a contender, culminating in significant achievements over the past few seasons.

During the 2022-2023 season, Howard won 22 games, capturing both the MEAC regular season and postseason tournament championships, leading to its first NCAA Tournament appearance in 31 years. Blakeney’s success earned him prestigious awards, including the John McLendon Award and ECAC Coach of the Year.

In the 2023-2024 season, Blakeney continued to build on this success by bringing in eight new players, including a mix of experienced transfers and promising freshmen. This recruitment was seen as one of the most diverse and deepest classes since Blakeney’s arrival at the HBCU. Additionally, the team focused on social justice initiatives, such as mentoring juveniles in the justice system, reflecting Blakeney’s commitment to activism and community engagement.

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