WEATHERFORD CAPITAL
Private Capital Partner | Big 12 Conference
Firm Overview
Founded in 2015 by the Weatherford brothers—Will, Sam, and Drew—Weatherford Capital is a family-owned private investment firm with over $1 billion in assets under management. The firm specializes in growth equity investments within business-to-business (B2B) and business-to-government (B2G) sectors, focusing on highly regulated industries like government technology, insurance, and now, collegiate athletics.
Investment Thesis: Partner with high-integrity leaders in regulated industries where relationships and policy expertise create a “moat.” They focus on long-term value alignment rather than quick flips.
Collegiate Athletic Solutions (CAS)
In May 2024, Weatherford Capital partnered with RedBird Capital to launch Collegiate Athletic Solutions (CAS) as a new platform designed to provide dedicated capital and business-building expertise to university athletic departments.
The Model: CAS offers “smart capital” investments ranging from $50M to $200M. Rather than taking equity or governance control, CAS provides liquidity in exchange for a share of future revenue streams. This approach allows schools to fund critical infrastructure and navigate new revenue-sharing requirements while maintaining their autonomy.
Strategic Fit: This venture leverages Weatherford’s deep understanding of regulated environments and political landscapes, combined with RedBird’s operational scale in sports business.
More InfoInvestment Portfolio & Philosophy
Weatherford Capital’s portfolio reflects a commitment to industries that serve the public interest, blending technology with traditional sectors like sports and government.
Tampa Bay Rays
Invested 2025Weatherford Capital joined the ownership group of the Tampa Bay Rays, reinforcing their commitment to the region’s sports landscape. This investment supports the franchise’s long-term vision, including the development of a new ballpark in St. Petersburg.
IMG Academy
Invested 2023Weatherford participated in the acquisition of IMG Academy, the world’s leading sports education brand. This investment underscores their belief in the “professionalization” of youth and amateur sports pathways.
OpenGov
Invested 2019A leader in cloud software for government, helping cities and agencies modernize budgeting and permitting. This aligns with Weatherford’s expertise in navigating the public sector and B2G sales cycles.
PayIt
Invested 2016A digital platform simplifying government transactions (DMV, taxes) for citizens. Weatherford’s early investment highlights their focus on GovTech solutions that improve public interaction with essential services.
The Leadership Team
The firm is led by three brothers who bring a unique “Politician, Investor, Athlete” dynamic to every deal, covering the full spectrum of influence needed for complex transactions.
Will Weatherford
Managing Partner View BioFormer Speaker of the Florida House of Representatives (2012-2014), where he was the youngest presiding officer in the nation. Will brings deep policy expertise and currently chairs the University of South Florida Board of Trustees, giving him direct insight into university governance.
Drew Weatherford
Founding Partner View BioA former starting quarterback for the Florida State Seminoles (2004-2008), Drew understands the student-athlete experience firsthand. He serves on the Florida State University Board of Trustees and co-founded Collegiate Athletic Solutions. He leads deal sourcing and investor relations, bridging the gap between sports and capital.
Sam Weatherford
Partner View BioWith over 15 years of private equity experience, Sam focuses on portfolio management and transaction execution. His background includes founding Schulze Global Investments, where he led investments across Asia and Africa, bringing a disciplined, global investment perspective to the firm.
Media & Insights
The Weatherford partners are active voices in the conversation about the future of sports and governance.
“Add More Athletes”
Drew discusses the “Add More Athletes” initiative, arguing that college sports should solve supply/demand imbalances by adding roster spots and JV teams rather than cutting them. He explains how this approach increases tuition revenue, utilizes facilities efficiently, and creates a “farm system” to mitigate transfer portal chaos.
Watch Interview“Private Equity Pushing for Their Piece”
This deep dive explores the critical juncture in college athletics where private equity groups like RedBird and Weatherford are making their moves. It contextualizes the need for capital as schools face revenue sharing and highlights the potential impact of deals like the one being discussed with the Big 12.
Read ArticlePrivate Equity in College Sports
Drew discusses the inevitable entry of private capital into college athletics. He argues that universities are “asset-rich but liquidity-poor” and that PE can solve this mismatch by monetizing non-core assets. He also touches on the potential for investing in club sports and the broader sports ecosystem.
Listen to PodcastStrategic Questions & Analysis
Key considerations regarding Weatherford Capital’s role in the college athletics landscape.
For the Big 12 & University Partners
- Political Navigability: Can Weatherford’s deep political ties (Will Weatherford’s speakership) help the conference navigate potential state-level legislative hurdles?
- Trust Factor: Does partnering with a firm led by a former FSU QB and trustee (Drew Weatherford) make the “private capital pill” easier to swallow for university presidents and ADs compared to a traditional Wall Street firm?
- Governance Alignment: With partners serving on university boards (FSU, USF), how will Weatherford manage potential conflicts of interest or leverage those insights to structure deals that actually pass board votes?
- Adoption & Utilization: With the $30M credit line being voluntary, the success of the deal depends on school adoption. Will schools be hesitant to take on debt-like instruments?
For Weatherford Capital
- The “Smart Capital” Thesis: How does the “credit at a reduced rate” model generate sufficient returns for Weatherford’s LPs compared to traditional growth equity investing? Is the play here long-term cash flow via revenue sharing, or a strategic foothold in the sector?
- Operational Value Add: Beyond capital, what specific operational expertise does Weatherford bring to the Big 12 conference office? Can their GovTech efficiency expertise translate to modernizing conference operations?