LSU Athletics wants to give $36M to academics over next 5 years

In a move that LSU officials say has not been taken at any other university they know of, the Athletics Department is proposing it annually gives $7.2 million to support academics and research, among other non-athletic initiatives, at LSU each of the next five years. The LSU Board of Supervisors will take up the proposal Friday. Under it, a revenue-sharing component could also provide additional funds toward academics if the LSU athletics program generates a surplus. “I am not aware of another university that has formalized a financial agreement such as this one,” says William Jenkins, interim president and chancellor at LSU. “The university has long been a beneficiary of the success of our financially self-sustaining athletics program, but this policy will solidify the connection between athletic success and advancement of the university’s academic mission.” The LSU Athletics Fund Transfer Policy would deliver a minimum of $36 million to the university during the initial five-year deal. However, on any athletics program surplus between $3 million and $5 million, 25% would be transferred to non-athletic initiatives at LSU. Any surplus above $5 million would be split equally between athletics and the rest of the university. To help offset a shortage in the university budget earlier this year, the Athletic Department transferred $4 million to LSU and assumed financial responsibility for the Academic Center for Student-Athletes, at the cost of approximately $1.5 million. Read more about the proposed policy at the LSUsports.net wesbite here.