North Carolina football general manager Michael Lombardi made a” preseason exploratory fundraising trip to Saudi Arabia,” a university spokesperson confirmed to The Fayetteville Observer on Oct. 16.
The visit was “at the invite of the hosts and funded by the hosts.” Other UNC officials didn’t immediately respond to further questions about the nature of the trip or whether it was authorized by the university.
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Pablo Torre, the host of the “Pablo Finds Out” podcast, first reported in a social media post that Lombardi left the football team in August “two weeks before the season-opener” against TCU to fundraise in Saudi Arabia.
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Hired in December to join coach Bill Belichick, Lombardi has a three-year contract worth $1.5 million annually, making him the highest-paid general manager in college football, according to data compiled by USA TODAY Sports. Despite UNC’s financial investment in the football program, the Tar Heels (2-3, 0-1 ACC) are off to a slow start as they head to Cal (4-2, 1-1) for their ACC road opener on Friday, Oct. 17 (10:30 p.m. ET, ESPN).
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The Athletic, which features Torre’s podcast as part of its network of shows, reported Lombardi was in Saudi Arabia to gauge interest in whether the nation’s Public Investment Fund (PIF) would be interested in investing in UNC football.
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Saudi Arabia’s Public Investment Fund is worth $1 trillion and has recently inserted itself into several global sports ventures, including golf, racing, soccer, tennis, martial arts and wrestling.
The LIV Golf tour is funded by the PIF, which also has organized Formula 1 events in Saudi Arabia and has stakes in the Professional Fighters League. The PIF also owns a majority stake in Newcastle United, a soccer team in the English Premier League.
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In mid-August, according to its 2024 revenue report, the PIF estimated its global assets to be worth $913 billion.
Rodd Baxley covers North Carolina Tar Heels athletics for The Fayetteville Observer as part of the USA TODAY Network. Follow his ACC coverage on X/Twitter or Bluesky: @RoddBaxley. Got questions regarding UNC? Send them to rbaxley@fayobserver.com.
This article originally appeared on USA TODAY: Mike Lombardi went to Saudi Arabia to fundraise for UNC football
