North Carolina football general manager Michael Lombardi visited Saudi Arabia on a fundraising trip before the Tar Heels’ season kicked off in September.
Dean Stoyer, the university’s new vice chancellor for communications, confirmed to WRAL the trip, calling it “exploratory,” and said it was at the invitation of the Saudi hosts and it was funded by them.
UNC didn’t immediately respond to follow-up questions about whether or not it authorized the trip and if the Saudis provided any funding to the university or the football program. It was not clear who Lombardi met with while he was in Saudi Arabia or who invited him to the country.
Football coach Bill Belichick, who was hired in December, brought Lombardi with him to Chapel Hill. Lombardi is responsible for negotiating contracts with players and managing the team’s roster through recruiting and the transfer portal. Lombardi has a three-year contract worth $4.5 million, making him the highest-paid general manager in college football.
Saudi Arabia, through its Public Investment Fund worth nearly $1 trillion, has invested heavily in sports, including LIV Golf, a rival to the PGA Tour that has lured some of the top golfers in the world with huge salaries. The country has hosted WWE events and attracted soccer stars, including Cristiano Ronaldo, to play for teams in its domestic league.
The soaring costs of college athletics, including revenue sharing of more than $20 million annually with athletes, has led universities to explore non-traditional avenues for additional revenue, including private equity.
Pablo Torre, whose podcast is hosted by The Athletic, first reported that Lombardi made the trip in August. Torre said his podcast to be released Friday would have more information.