LSU Athletic Department gives $4M to university
In a move that LSU Chancellor Mike Martin says will help stave off layoffs at the university and across-the-board budget reductions, the LSU Athletic Department announced today it's making a one-time, $4 million contribution to assist the institution with its budget challenges. The transfer from athletics to the academic enterprise is the single largest contribution of its kind in school history, LSU says. In addition, the athletic department announced it will assume financial responsibility for the Cox Communications Academic Center for Student-Athletes at the rate of approximately $1.5 million per year. In an email to LSU faculty and staff on Friday, Martin announced LSU would avoid layoffs and aforementioned budget reductions in large part because of the athletic department's donation. In a statement released today, LSU Vice Chancellor and Director of Athletics Joe Alleva says: "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." Click here for the full story from LSUsports.net.
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