January 23, 2026 - Erik Judson (The Business of UK - Episode 004)

LEXINGTON, Ky. (January 23, 2026) – The business of college athletics is at an inflection point, and leaders across higher education are grappling with a new reality: rising costs, shifting rules and a model many say can't hold. On this week's episode of 'Behind the Blue,' UK's Executive Vice President for Finance and Administration and Co-Executive Vice President for Health Affairs Dr. Eric Monday continues our Business of UK series with guest Erik Judson, founder and CEO of JMI Sports, for a wide-ranging conversation about the changing economics of college sports.  Judson, who has spent three decades in the business of sports, says the current landscape has moved from one of the most regulated systems to one that now feels chaotic and inconsistent. "As we sit here today, it's absolutely not sustainable," Judson said, adding that the rapid shift has made it difficult for institutions to keep up with mounting, often unfunded, costs.  Those pressures include new financial obligations tied to the House settlement, expanded scholarships, increased spending around name, image and likeness (NIL), and escalating salaries across athletic departments — from coaching staff to the broader operational ecosystem.  In response, Judson argues athletic departments must become more disciplined and business-minded — not by changing the student-athlete experience, but by professionalizing the way programs generate revenue and manage expenses. "It's not just a revenue problem, it's a cost problem," he said.  A key theme of the discussion is the need for clearer rules and enforceable standards. Judson calls for "guardrails" to reduce uncertainty across the sport — ideally with help from Congress — so schools can compete in a system everyone understands and is expected to follow.  Judson also points to creative policy options that could discourage runaway spending while preserving competitive opportunity — including the idea of a luxury tax model that penalizes programs that far exceed agreed-upon limits.  Despite the turbulence, Judson ends on an optimistic note: the passion that fuels college sports — among fans, communities and stakeholders — can also drive the momentum needed to build a healthier, more stable future. Listeners are encouraged to submit questions and ideas for future Business of UK episodes by emailing [email protected]. Upcoming installments will focus on the university's $8.7 billion enterprise budget, how it is structured, and how resources are allocated across education, research, health care and service throughout the Commonwealth. 'Behind the Blue' is available via a variety of podcast providers, including Apple Podcasts, YouTube and Spotify. Subscribe to receive new episodes each week, featuring UK's latest medical breakthroughs, research, artists, writers and the most important news impacting the university. 'Behind the Blue' is a production of the University of Kentucky. Transcripts for this or other episodes of 'Behind the Blue' can be downloaded from the show's blog page.