The LSU athletics department is reconsidering its relationship with the academic side of campus. New Athletic Director Scott Woodward said he is planning to re-evaluate the fund-transfer policy that was initiated in 2012.
The policy allowed the athletic side of the university to transfer surplus funds to the academic side of the university on a recurring basis. Woodward, however, is seeking to do away with that contract.
“It was basically supposed to go on for five years…it was never intended to be a perpetual thing,” an LSU Athletics representative said.
Between 2012 and 2017, LSU athletics funded $50 million to the university itself due to the fund-transfer policy which was initially and unprecedently introduced by former Athletic Director Joe Alleva.
The representative confirmed that the agreement will be honored throughout this fiscal year.
“It’s just sort of a dangerous precedent to set,” the representative said, echoing Woodward’s sentiments earlier this week.
However, the athletics department does not have final say over the stance of the current policy. President F. King Alexander and the Board of Supervisors will have to come to an agreement along with Woodward before anything is officially enacted. All parties are currently in discussion as to how to alter the current policy.
The representative also echoed sentiments Woodward previously exclaimed. In particular, the athletic department would rather other one-time donations to the university rather than recurring payments depending on necessity.
“We’re not going to stop giving. We’re going to continue to give, but we want that to be more one-time projects,” the representative said. “It’s not really healthy for a university to rely on [the athletic foundation].”
The athletic department is seeking to continue small recurring payment alongside one-time giving.
“We’re not interested in this idea of ending support, it’s just going to look different,” the representative said.