There is now a for-profit university entering NCAA Division I ranks

…Mueller’s company, Grand Canyon University, in Phoenix, is in the process of becoming the first-ever for-profit university to join the NCAA’s Division I ranks. The Antelopes (hence, the ticker symbol) accepted an invitation to the WAC last December when the oft-raided league was on life support. On July 1 they became official members, beginning a four-year transition period from Division II to Division I

The presidents of the Pac-12 — including one in particular — are none too pleased about it.

The conference’s 12 presidents signed and delivered a letter dated July 10 urging the NCAA’s Executive Committee to “engage in further, careful consideration” about allowing for-profit universities to become Division I members at the committee’s August meeting. In the meantime, Pac-12 presidents decided at a league meeting last month not to schedule future contests against Grand Canyon while the issue is under consideration.

“A university using intercollegiate athletics to drive up its stock value — that’s not what we’re about,” Arizona State president Michael Crow said in a phone interview over the weekend. “… If someone asked me, should we play the Pepsi-Cola Company in basketball? The answer is no. We shouldn’t be playing for-profit corporations.”

There is more information here, and the hat tip goes to Tim Johnson on Twitter.