September 5th, 2012 08:17 PM║ Posted By: John Pennington ║ Permalink
║ Schools: LSU
Tags: Baton Rouge, LSU, William Jenkins
Louisiana State University believes it’s on the verge of doing something new in the world of college sports. According to TigerBait.com — the Rivals site covering LSU athletics — the school’s board of supervisors will consider a policy that would formalize an annual transfer of $7.2 million from the LSU athletic department “to other components of LSU for use in supporting LSU’s academic, research, public service and other missions.”
Other athletic departments have, of course, given annual gifts back to their schools, but in addition to the formalizing of such a policy in Baton Rouge, the proposed policy would “establish a revenue sharing component that could provide additional funds to the university’s mission and ensure that all facets of LSU share in the success of the athletics program.”
LSU has been dealing with budget shortfalls and severe cutbacks in recent years, so tapping into the ever-expanding bank account of its athletic department would make a great deal of sense.
William Jenkins — the interim president and chancellor at LSU — told the website: “I am not aware of another university that has formalized a financial agreement such as this one. The University has 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 policy will be discussed on Friday by LSU’s board.
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