TAMPA, Fla. — With college sports on the verge of sweeping change that could have long-term financial implications, two private investment firms have created a platform to help athletic departments find funding.
CAS would be available to lend money and offer guidance to athletic departments in exchange for a share of future revenue.“The paradigm shift we are seeing in the collegiate athletics ecosystem is similar to the ones we’ve seen with media distribution models, collective bargaining rights and premium hospitality,” said Gerry Cardinale, founder and managing partner of RedBird Capital in New York.
FSU has been negotiating for more than a year with another investment firm, private equity giant Sixth Street, on a potential capital infusion for the Seminoles. Maggie Long has been the only person in her grade at St. Mark's School in King's Cove since Grade 3. St. Mark's School in King's Cove, a tiny town of 90 people on Newfoundland's Bonivista Peninsula, has been Maggie Long's second home most of her life.It's where she entered kindergarten, and where she will graduate from Grade 12 next month.It's at St.