PV3 Enterprises has emerged as the firm behind the largest philanthropic commitment in the history of BYU Athletics, according to a report published October 15. The Salt Lake City-based firm, which identifies Mark Hancock and Jason Murray as principals, has evolved from a family-led investment operation into a broader investment-and-operating platform.
The enterprise manages a diverse portfolio that includes advanced manufacturing, restaurants, marketing, commercial real estate, golf, and motorsports. Notable investments include the reported $20 million acquisition of ENVE Composites and more than $50 million invested into West Desert, a 511-acre motorsports property in Tooele County, since the firm took control earlier this year. Other holdings include 83rd Marketplace, ENVE Motorsports, Pica Rica BBQ, Red 7 Marketing, Round Valley Golf Course, and Seven Brothers.
A key component of the new long-term BYU Athletics relationship is a name, image and likeness (NIL) platform involving more than 40 current BYU student-athletes. BYU Athletics stated the platform will primarily connect football players with endorsement opportunities across the PV3 portfolio. This arrangement is distinct from the existing PACS Group relationship with the university; BYU Athletics Associate Athletic Director Casey Stauffer explained that while PV3 controls new branding and athlete endorsement rights, PACS Group maintains naming rights to spaces such as Club 22 and the PACS Premiere Club, which is scheduled to be built for the 2027 season.
The principals of PV3 Enterprises, Hancock and Murray, are also co-founders of PACS Group. While the two businessmen have generated significant liquidity from sales of PACS Group stock since the company went public in April 2024, the specific financial ties and ownership percentages within PV3 Enterprises remain undisclosed. The firm's internal marketing capability, Red 7 Marketing, may serve to support its various portfolio companies and their athlete-driven endorsements.
