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Redbird Capital and Tampa-based Weatherford Capital, as part of their Collegiate Athletic Solutions partnership, will provide a $12.5 million infusion and help create more commercial revenue for the Big 12.
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Vice Chair Mike Griffin, known as "Mr. USF," will lead the board, pending elections. Weatherford, who will remain as trustee, led the panel during a period of unprecidented institutional growth.
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Gov. Ron DeSantis named Chad Mizelle to the board and reappointed three others. The state Senate must still confirm the selections.
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The arrangement with Collegiate Athletic Solutions, a platform co‑founded by Tampa‑based Weatherford Capital, would give each school access to a $30 million line of credit while supporting conference operations.
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This is the fee non-Florida residents pay on top of the school's tuition. USF is the fifth state university to approve the change.
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The University of South Florida Board of Trustees approved spending $348.5 million for the stadium, with plans to expand it in size and possibly go beyond offering just college football.
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The cost to build USF's new on-campus football stadium — currently approved for $340 million — might go up.
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In compliance with the law, gen ed courses cannot include curriculum “based on theories that systemic racism, sexism, oppression, and privilege are inherent."
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The plan was approved at a meeting of the Board of Trustees Finance Committee on Wednesday. University officials emphasize this plan is "very very preliminary."
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The University of South Florida is one of many schools forced to phase out diversity, equity, and inclusion offices thanks to a new state law. But USF officials say the school will remain diverse.
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Before the 35,000-seat stadium goes up, Sycamore Fields will be relocated to a research park elsewhere on campus. A parking lot and fitness trail will be built nearby.
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The program will allow graduates to become credentialed as school psychologists by the Florida Department of Education and become nationally certified school psychologists.