Text of Senate Amendment 6820

On 2026-09-22, Senator Richard Blumenthal (D-CT) delivered a floor speech titled "Text Of Senate Amendment 6820" in the Senate.

Text of Senate Amendment 6820

Congressional Record, Volume 172 Issue 150 (Tuesday, September 22, 2026) [Congressional Record Volume 172, Number 150 (Tuesday, September 22, 2026)] [Senate] [Pages S4881-S4882] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] 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 [[Page S4882]] 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. ______