BATON ROUGE, LA (WAFB) - Athletic Director and Vice Chancellor Joe Alleva urged the LSU board of supervisors to approve a five year, $36 million deal that would transfer funds from the athletic department to the university.
This is a policy believed to be unique in major college sports which ensures a portion of the school's academic mission.
The LSU athletic department has been giving money to the university for years. This deal makes it formal. "The only difference with this deal is, it's a deal," says Joe Alleva. "It's a formalized policy approved by the board."
LSU Interim President and Chancellor William Jenkins praised Alleva for his efforts on getting this contract together. "It's so very important, not only the continuing support of athletics over academics," says Jenkins. "But as they are more and more successful we benefit to a greater degree. That is so attractive."
The deal can be revised after three years if need be. The policy does not affect the current sharing of LSU trademark licensing revenue, which will continue to be split equally between athletics and the rest of the university.