Monday, November 5, 2007

Stadium Funding

Interesting article in the current issue of Fortune magazine on Florida Gator alumni support. The following bit caught my eye (emphasis mine):

But the really mind-blowing dollars in college sports are going into a facilities-building boom. According to the Chronicle of Higher Education, from 2002 to 2007 schools in the nation's six premier athletic conferences raised at least $3.9 billion for stadium expansions, new practice facilities, and such.

In many cases it's the powerhouses expanding to ensure their dominance, such as the $226 million stadium renovation planned at Michigan. Or it's a striver like Oklahoma State putting to use the $165 million pledge by billionaire OSU alumnus T. Boone Pickens. In all cases, it is the schools' boosters who are footing most of the bill.

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