Reported 5 months ago
Private equity groups, led by Drew Weatherford and Gerry Cardinale, are actively engaging with college athletic departments to inject instant cash amid significant changes in college sports. With the NCAA and schools agreeing to a revenue-sharing model with athletes, private capital investment is seen as crucial for departments to remain competitive. Weatherford and Cardinale's Collegiate Athletics Solutions platform aims to provide financial support to athletic departments, with investments ranging from $50 million to $200 million. Despite some skepticism, private equity involvement is becoming increasingly necessary as schools face financial strains due to mounting debts and the need to compensate athletes directly.
Source: YAHOO