In what is considered one of the greatest gifts in the history of university athletics, the University of Kansas announced that Alumnus David Booth has promised $ 300 million to support athletics and campus development. The donation comprises $ 75 million aimed at financing the next phase of the Gateway District and renovations to David Both Kansas Memorial Stadium, while the rest are expected to provide long -term support for athletics programs in Kansas.
Booth, a resident of Lawrence and founder of Dimensional Fund Advisors, has a long history of giving Kansas. His earlier contributions include a gift of $ 50 million in 2017 that helped to launch renovations in the football stadium, which was later mentioned in honor of him.
“The unprecedented generosity of David is now and transforming for our future,” said Kansas Athletics Director Travis Goff in a release. “… We are deeply grateful for David leadership and extraordinary impact on generations of student athletes and fans. There is no more generous and impactful Jayhawk, and we are so happy to call him a friend and mentor.”
The Gateway District project includes new student housing, a hotel, extensive shopping and restaurant space, an open -air square and extra parking. Phase 2 of the project, which aims to complete the South and Eastern sides of the football stadium and to develop the surrounding district for mixed use, has an estimated cost of $ 346 million, According to a meeting agenda of Lawrence City Commissioner. Municipal officials approved a $ 86 million tax stimulus to support the project, with a maximum of $ 94.6 million in public financing available. The total costs of the gateway project, including the first phase that has renovated a large part of the stadium and has added a conference center, is estimated at $ 794 million.
University officials said that the donation also offers flexibility for athletics programs in the midst of changing NCAA regulations and structures for sharing income.
Booth, who obtained both non -graduated and Master’s diploma from Kansas before completing an MBA at the University of Chicago, said he regards the gift as an investment in the future of the university.
“One of the greatest privileges of life is being able to give back to the people and places that gave you so much,” said Booth in a release. “Ku and Lawrence are a large part of my story, and it means a lot to support the community that has invested in me. Philanthropy, such as investing, pays dividends over time. Every gift connections, creating opportunities, not only for today, but for the coming years. This is really about the future we are building.”
The announcement comes less than two weeks before the season opener of the Jayhawks of 23 August against Fresno State.
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