The top 40 LSU athletics donors have been invited to the Governor’s Mansion next month to hear a presentation about the financial future of the department, according to a letter obtained by LouisianaSports.net.
Tiger Athletic Foundation President and CEO Matt Borman sent the invitation Thursday. LSU President Dr. Wade Rousse will present “an alternative revenue-generating opportunity for LSU athletics that is first of its kind nationally and could quite possibly change the future of college sports in America,” according to the notice. Gov. Jeff Landry is hosting the event with Rousse.
There will be two separate sessions for donors to choose to attend, Aug. 3 and Aug. 5. The letter was clear the meetings are not fundraisers but rather, “a conversation about the future of college athletics.”
LSU athletics is facing a precarious financial situation in part due to recent large contract buyouts. Brian Kelly ($54 million), Matt McMahon ($8 million), Scott Woodward ($6 million) and Lane Kiffin ($3 million) total more than $70 million in dead money. From 2015-2025, LSU paid $43.3 million in buyouts according to a recent report from the Louisiana Illuminator.
Revenue sharing with student athletes has added a $20.5 million annual budget expense as well.
Schools and conferences are exploring creative revenue strategies. LSU recently announced a jersey patch deal with Woodside Energy for all of its athletics teams. Terms of the deal have not been made public but sources confirm the multi-year deal totals eight figures.
The Big 12 announced a leaguewide deal with Monster Energy. The conference also announced a private equity deal in April to add capital to the league’s athletics departments. Individual schools have also struck private equity deals, Utah and Michigan State among them.
Rousse’s background is in finance prior to his academic career. He spent time working in both private equity and for the Federal Reserve.
