LSU Athletics donates $4M to university
The LSU Athletic Department is making a $4 million contribution to the university to help with budget challenges in the 2012-13 fiscal year.
The transfer is the single largest contribution from Athletics to Academics in school history. Director of Athletics Joe Alleva says being able to make such a contribution is a "real credit to LSU's fans and alumni who support the Tigers."
Chancellor Mike Martin said Friday that LSU would avoid any layoffs or across-the-board budget reductions in large part because of the Athletic Department contribution. The money is on top of the department's annual transfers of about $6 million for administrative services.
In addition, the Athletic Department will assume financial responsibility for the Cox Communications Academic Center for Student-Athletes at the rate of about $1.5 million per year.