From LSU Sports
BATON ROUGE – The LSU Athletic Department is making a $4 million contribution to the University to assist the institution with budget challenges in the 2012-13 fiscal year.
The $4 million transfer from Athletics to the academic enterprise is the single largest contribution from Athletics to Academics in school history.
"It is important for Athletics to play a role in the central mission of a university, and LSU Athletics is in the unique position to provide this financial support in a time of budgetary need," said Joe Alleva, Vice Chancellor and Director of Athletics. "Only a handful of athletic departments in the nation operate using no state tax dollars and no student fees, but to be able to make a contribution of this magnitude is unique and a real credit to LSU's fans and alumni who support the Tigers and to the coaches and student-athletes whose commitment to excellence translates into continued success."
In an email to LSU faculty and staff on Friday, Chancellor Mike Martin announced that LSU would avoid any layoffs or across-the-board budget reductions, in large part because of the participation of the Athletic Department.
In addition to the $4 million contribution, the Athletic Department will assume financial responsibility for the Cox Communications Academic Center for Student-Athletes at the rate of approximately $1.5 million per year.
The Athletic Department's one-time contribution of $4 million is in addition to the department's annual transfers of approximately $6 million in funds for administrative services provided by the University, a Chancellor's Excellence Fund, a campus beautification fund, and a campus building fund. Also in recent years the Athletic Department has provided $3.8 million in funds to help build a new band hall for the School of Music and $1.9 toward the construction of a new building for the E. J. Ourso College of Business.