The University of Utah is expected to name Matt Webb, the former vice president of corporate sponsorships for both the New Orleans Saints and Pelicans, as the CEO of Utah Brand Initiatives (UBI), multiple sources told The Salt Lake Tribune.

UBI is a new company that is being formed from the partnership being finalized between the New York-based private-equity firm Otro Capital and the university’s foundation, which will help run Ute athletics.

The deal, announced in December and yet to be finalized, is expected to infuse hundreds of millions into the Utes’ athletic department.

Once the deal is finished, the university will transfer select revenue-generating operations — things like sponsorships, tickets and concessions — from athletics and auxiliary services to Utah Brand Initiatives, which Webb will help lead as CEO.

Webb has most recently served as a consultant for the university foundation.

Before that, Webb spent eight years with the Saints organization.

He also held previous positions with the Cleveland Browns, where he worked in corporate partnerships from 2013-17 and the MLB’s San Diego Padres from 2011-13 as the manager of corporate sponsorships.

In the proposal first presented to the Utah board of trustees, officials said Utah Brand Initiatives will be composed of a seven-member board, led by four members appointed by the university foundation, another two from Otro Capital and one other Utah supporter or investor.

However, Utes officials indicated that number could change.

The sources who spoke to The Tribune for this story were granted anonymity because they did not have permission to speak publicly on the matter.