Tampa is set to become a key launching point for private equity in college sports as Weatherford Capital announced the creation of Collegiate Athletic Solutions on Wednesday. This new venture is described as a “purpose-driven, dedicated capital and business-building platform” for school athletic departments. The leadership team includes Drew Weatherford, a former Florida State quarterback and current trustee, and his brother, Will Weatherford, the chairperson of USF’s board of trustees. Both Drew and Will Weatherford played football at Land O’ Lakes High.
The firm, which has offices in Tampa and Dallas, is collaborating with RedBird Capital Partners to implement their private-equity plan. This plan is unique in the industry as it focuses on generating new revenues rather than taking a direct share of the business. By utilizing their expertise in media rights and events, the Weatherford brothers and RedBird aim to grow revenue opportunities for everyone while reducing risk for the schools involved.
Drew Weatherford emphasized the importance of investing in athletic departments to stay competitive during a time of significant change in the college sports landscape. With factors such as conference realignment, diverging media rights deals, and the emergence of name, image, and likeness opportunities, athletic departments are facing financial challenges. Collegiate Athletic Solutions aims to provide a capital solution for athletic departments to invest strategically as they navigate this evolving paradigm shift and strive to compete at the highest level.
Private equity in college sports has become a hot topic, with schools like FSU exploring the possibility. The emergence of Collegiate Athletic Solutions in Tampa signifies a new approach to funding athletic departments in a changing sports environment. Never miss updates on Tampa Bay sports teams by signing up for the Sports Today newsletter and following the coverage on Instagram, Twitter, and Facebook.