Earlier this week, Kansas announced a major $300 million gift from donor David Booth. It’s believed to be one of the among the largest single gifts in college athletics, and it came just weeks before the Jayhawks open the season against Missouri. The Tigers’ coach saw that news, as well. Eli Drinkwitz had jokes about […]
Earlier this week, Kansas announced a major $300 million gift from donor David Booth. It’s believed to be one of the among the largest single gifts in college athletics, and it came just weeks before the Jayhawks open the season against Missouri.
The Tigers’ coach saw that news, as well. Eli Drinkwitz had jokes about KU’s influx of cash during an appearance on The Paul Finebaum Show Thursday.
Drinkwitz joked about Kansas’ gift and Tennessee’s lucrative deal with adidas, which could be worth $10 million per year. He said it shows just how many dollars are flying around college athletics at the moment.
“$300 million, that’s almost as much as adidas gave Tennessee,” Drinkwitz said. “It’s a whole lot of money out there right now.”
More on Kansas’ donation, Tennessee’s adidas deal
Booth’s $300 million gift isn’t the first time he donated money to the Kansas athletic department. A big fan of his alma mater, he gave a reported $9 million in 2004 to fund the Booth Family Hall of Athletics attached to Allen Fieldhouse. Over a decade later, he wrote a larger check, gifting a reported $50 million to renovate Kansas’ football stadium and named it after Booth.
“David has always believed in the power of athletics to unite communities, generate Jayhawk spirit and create lasting bonds between alumni, students and fans,” said Kansas chancellor Douglas A. Girod in a statement. “His generosity is inspiring, and his loyalty to KU runs deep. We are beyond grateful for his transformative gift.”
The same day Kansas announced Booth’s gift, Tennessee revealed it is leaving Nike to return to adidas – its previous apparel partner until 2014. The Volunteers agreed to a 10-year deal with adidas worth at least $10 million, according to Yahoo! Sports’ Ross Dellenger, and it could set the program up for NIL success.
In the announcement, Tennessee said the deal with adidas includes “unprecedented NIL opportunities” for athletes at the school. Dellenger reported players will get a slice of the pie, and adidas is even working quickly to secure deals with Vols athletes this school year. The new contract doesn’t officially start until next school year.
The NIL component of Tennessee’s deal with adidas – which could be worth at least $10 million, according to Dellenger – is especially important in the post-House v. NCAA settlement landscape. Under the agreement, schools can share up to $20.5 million directly with athletes through revenue-sharing. However, there isn’t a cap on third-party NIL deals, meaning adidas can effectively help with “over-the-cap” opportunities.
Category: General Sports
