• Loading stock data...
Sunday, August 31, 2025
The biggest names in sports media. All in one room. Get your ticket now!

Athletic Departments Express Renewed Interest in PE in Wake of House Settlement

The settlement has created new expenses for athletic departments, which have renewed their search for creative, and in some cases unorthodox, solutions.

The Florida State Seminoles hosted the Florida Gators at Doak Campbell Stadium on Saturday, Nov. 30, 2024.
Imagn Images

The House v. NCAA settlement, approved June 6, allows schools to share up to $20.5 million in revenue with players, as well as offer as many scholarships as new roster limits would allow. New money being distributed to athletes means athletic departments need more revenue—and they’re renewing their search for creative, and in some cases, unorthodox solutions.

In the days and weeks since the settlement’s approval, athletic departments have shown interest in inviting private capital into their schools, former FSU quarterback and Weatherford Capital founder Drew Weatherford tells Front Office Sports.

In May 2024, Weatherford Capital and RedBird Capital Partners launched a joint investment arm aimed at deploying private capital into athletic departments nationwide, reportedly with the ability to offer between $50 million and $200 million per school. (Weatherford Capital’s investment portfolio includes sports companies like IMG Academy, as well as non-sports-specific brands like BusPatrol.) They offered a slightly different model than purchasing an ownership stake in a professional team. Instead, the newly formed Collegiate Athletic Solutions would offer the money almost in the form of a loan that they would expect a return on only if the school generated a certain amount of revenue or profit from those investments.

The group has been unsuccessful at getting a deal across the finish line. (It isn’t the only one—multiple private capital firms have had conversations with athletic departments over the past couple of years without bearing fruit.) 

“I think the reason why people have been slow to do anything is they didn’t know 100% whether or not the House case is going to pass,” Weatherford says. “The likelihood of it passing [was] increasing—but it wasn’t a guarantee.” He explained that, as they waited for a final decision, schools decided to go to their university boards to see whether any state or institutional support was available to bridge the financial gap the House settlement could create. 

But now, athletic departments ranging from the top of the power conferences to the lower end of the Group of 6 who had conversations with Collegiate Athletic Solutions before—and ultimately paused them—have expressed renewed interest since House settled, Weatherford says. “All of these institutions have pulled every lever that they can. Then the next question is if there is a need, are they going to solve that question with private capital.”

Weatherford says conversations are “underway” but couldn’t put a timeline on if or when a deal would get across the finish line.

The momentum is certainly building across the industry. Shortly after the settlement was approved in June, two athletic departments signed private capital contracts with Elevate, marking the inaugural influx of private capital at the athletic department level. That same day, Boise State athletic director Jeramiah Dickey told FOS the Broncos had tasked a team within its athletic department with exploring new revenue streams like private capital. He said he expected some sort of deal in the next six months. Commissioners have also expressed interest in private capital at the conference level. 

Weatherford, for his part, says CAS’s model is the most “viable” way to get private capital into the athletic department space. 

Editors’ note: RedBird IMI, in which RedBird Capital Partners is a joint venture partner, is the primary investor in Front Office Sports.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Fox, YouTube TV Reach Deal, Avoiding CFB Blackout

Saturday’s Texas-Ohio State college football game will be fully distributed

The Next Chapter in the Network Battle for College Football Dominance

Fox and ESPN will jockey for viewers and attention at Texas–Ohio State.
Oregon State Beavers quarterback Gevani McCoy (4) scrambles out of the pocket during an NCAA football game against UNLV at Reser Stadium on Saturday, Oct. 19, 2024, in Corvallis, Ore.

Pac-12 Strikes New Football, Basketball Deal With The CW

The latest step in its resurrection after being picked apart in 2023.

Featured Today

Ohio State Buckeyes wide receiver Jeremiah Smith (4) celebrates with offensive lineman Donovan Jackson (74) after a touchdown catch against Notre Dame Fighting Irish in the first quarter during the College Football Playoff National Championship at Mercedes-Benz Stadium in Atlanta on January 20, 2025.

The Most Expensive Roster Year in College Football History

The House settlement created revenue-sharing—and a big NIL loophole.
August 26, 2025

‘You’re Going to Get Beat Up’: The Liberty’s All-Male Practice Squad

A select group suits up weekly to take on the defending champs.
August 24, 2025

The Honey Deuce Effect: How Tennis Perfected the Signature Cocktail

Sold every 1.5 seconds, they total more than $12 million in sales.
Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) warms up as the Texas Longhorns prepare to play the Clemson Tigers in the first round of the College Football Playoffs at Darrell K Royal Texas Memorial Stadium.
August 23, 2025

Schools Are Hesitant to Allow PE Into Their Athletic Departments

Regardless of budget, schools don’t believe the risk is worth the reward.

4 of 10 Highest-Paid CFB Coaches Lose in Week 1

Alabama coach Kalen DeBoer was the biggest surprise of the Week 1 losers.
Ohio State mascot Brutus interacts with Lee Corso on the set of ESPN College GameDay prior to the College Football Playoff first round game between the Ohio State Buckeyes and Tennessee Volunteers in Columbus on Dec. 21, 2024.
August 29, 2025

End of an Era: Lee Corso Makes His Final ‘College GameDay’ Appearance

After 431 iconic headgear picks, the iconic coach bids farewell.
August 29, 2025

Cody Campbell Asks Congress to Allow National College Sports TV Package

The billionaire’s ad will air on ESPN and Fox this weekend.
Sponsored

Gareth Bale on MLS vs EPL, Retirement & Buying Cardiff City

Gareth Bale shares his post-soccer business playbook.
Apr 19, 2025; Boulder, CO, USA; Colorado Buffaloes head coach Deion Sanders during the spring game at Folsom Field.
August 28, 2025

Coach Prime Enters Year 3 at Colorado With New Challenges

The Buffaloes have sold out their season tickets yet again.
August 27, 2025

Fox, YouTube TV Avoid Blackout With Short-Term Deal

The upcoming Texas–Ohio State clash will remain available to subscribers.
Oct 17, 2015; Evanston, IL, USA; A general view of the Northwestern Wildcats logo at midfield before the game against the Iowa Hawkeyes at Ryan Field.
August 25, 2025

Northwestern AD Singles Out Volleyball As Sport to Invest In

Northwestern athletic director Mark Jackson spoke to Front Office Sports.
Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) is tackled by Clemson Tigers defensive tackle Payton Page (55) during the second half of the CFP National playoff first round at Darrell K Royal-Texas Memorial Stadium
August 25, 2025

As College Football Season Kicks Off, NIL Deal Approval Process Still Lags

Many deals are stuck in “purgatory,” one power conference collective operator says.