BATON ROUGE, La. (AP) _ LSU’s athletic department says it’ll transfer $10 million to the university — about $3 million more than its required payment.
LSU’s main campus receives a guaranteed $7.2 million from its athletics program each year. That’s according to the athletics funds transfer policy approved by the Board of Supervisors in 2012. In a news release on Monday, the athletic department said a surplus this year allowed for an additional $2.85 million to be given to the university.
Facing budgets cuts, LSU President F. King Alexander said in mid-March that the school’s administration was exploring ways to increase that annual $7.2 million transfer.
LSU is one of only seven athletic departments in the country that relies solely on self-generated revenue and doesn’t take student fees.