TLDR:
- Former FSU quarterback Drew Weatherford has launched a private equity venture to assist collegiate athletic departments with revenue sharing.
- Two conferences, the Big 12 and the ACC, have agreed to settle in the House v. NCAA case, resulting in the need for colleges to collectively pay athletes around $20 million per year.
In a major development for collegiate athletics, former Florida State quarterback Drew Weatherford, now a Founding Partner of Weatherford Capital, has initiated a private equity venture to help collegiate athletic departments cope with the new landscape of revenue sharing among universities and athletes. With the settlement of the House v. NCAA case by the Big 12 and the ACC, schools will have to pay athletes collectively around $20 million annually, prompting a need for immediate capital infusion. Weatherford’s joint venture, Collegiate Athletic Solutions (CAS), aims to provide both capital and operational expertise to assist schools in navigating this new financial challenge and enhance their competitive positions for future revenue opportunities. Despite not being directly involved with FSU at this point, Weatherford’s work with CAS has generated significant interest and engagement from various FBS programs and university stakeholders.
This groundbreaking shift in revenue sharing dynamics is expected to have a profound impact on athletic departments across the country, necessitating innovative financial solutions and strategic partnerships to support the evolving needs of collegiate sports. Weatherford’s proactive approach to addressing this critical issue reflects a forward-thinking mindset and a commitment to driving positive change in the realm of collegiate athletics.
