The University of Utah’s deal with the New York private-equity firm Otro Capital will give the Utes an infusion of cash.

But how much?

The details of the agreement signed last month haven’t been released — and Utah’s athletic director said they might not ever be made available to the public.

“We’ll definitely talk about it,” Utah Athletic Director Mark Harlan said when asked this week about releasing the details of the contract. “It is a private company, and so we have to honor the terms of the deal.”

Harlan added: “When it gets into all the dollars and cents, I don’t know if we’ll completely get there to the satisfaction of all. But we’re continuing to figure out what’s reasonable to share.”

In a letter sent to the university’s board of trustees in May, Utah State Auditor Tina Cannon expressed concerns about a lack of transparency involving the U. and Otro Capital.

The University of Utah is a public institution that is subject to open records laws. But the U.’s deal with Otro involved the creation of a private company, Crimson Brand Partners, which will operate the revenue-generating components of athletics — marketing, fan engagement, ticketing, events at stadiums and more — that were previously exclusively under the university’s control.

Cannon wrote in her letter that she was concerned that “many of the future decisions regarding the entity … may all occur behind closed doors and absent any public discussion or disclosure.”

Otro will infuse capital into Utah athletics in exchange for a minority stake in the new company. How much capital and how big a stake are among the details that have not been shared publicly.

The Salt Lake Tribune requested a copy of the signed agreement. The U. denied the request, citing a need for “business confidentiality.”

“I think that one thing that we really can be transparent about is: What are they doing that’s going to affect the fans? What changes are coming that they’re going to be doing?” said Harlan, who also serves as the chairman of the Crimson Brand Partners’ board.

While the company is still actively “building their team,” Harlan said, Crimson Brand Partners is already looking for new sponsorships and streams of revenue to bring to Utah’s athletic department.

Harlan said he wants to build “deep relationships” similar to what Utah Jazz and Mammoth owner Ryan Smith has done with companies and brands across the state.

“Now the pitches are different,” Harlan said. “Now you’re pitching to the big companies, the ones that have real money and want to create a really deep relationship. Now [they] get to look around the campus and yes, they get all the athletic assets if they want them, and so that process is underway.

“We’ve already seen some really interesting conversations of interest because we’ve never been able to offer it that way before, if that makes sense. So this day and age, big deals really come down to partnerships.”

And when discussing Smith’s teams, Harlan said he’s “been really impressed with how they co-brand around the community. It’s not just monetary value, it’s co-branding together.”

With Crimson Brand actively searching for new partners, there’s still a piece of the company that’s yet to come to fruition. When introducing the private-equity deal to the Utah board of trustees in December, Utah officials said athletics supporters would potentially have an opportunity to invest in Crimson Brand Partners.

“We still are looking into that. We have not proceeded with that yet,” Harlan said this week. “That company, they will decide if they want donors. The possibility is still there, but I think we want to get everything started first, and then we can proceed.”

For now, Crimson Brand Partners will continue to assemble its team and find ways to reshape Utah’s revenue strategies. Harlan said the university will still have majority governance in decisions.

“What is really important is that the governance, as we said from the very beginning, is absolutely on the side of the University of Utah,” Harlan said. “I’ll chair that board, and we’ll make some really good decisions, but we’re continuing to figure out what’s reasonable to share.”