In what is believed to be one of the largest gifts in college athletics history, the University of Kansas announced that alumnus David Booth pledged $300 million to support athletics and campus development. The donation includes $75 million aimed at funding the next phase of the Gateway District and renovations to David Booth Kansas Memorial Stadium, while the remainder is expected to provide long-term support for Kansas athletics programs.
Booth, a Lawrence native and founder of Dimensional Fund Advisors, has a long history of giving to Kansas. His previous contributions include a $50 million gift in 2017 that helped launch renovations at the football stadium, which was later named in his honor.
"David's unprecedented generosity is transformative now and for our future," Kansas athletics director Travis Goff said in a release. "... We're profoundly grateful for David's leadership and extraordinary impact on generations of student-athletes and fans. There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor."
The Gateway District project includes new student housing, a hotel, expanded retail and restaurant space, an outdoor plaza and additional parking. Phase 2 of the project, which aims to finish the south and east sides of the football stadium and develop the surrounding mixed-use district, has an estimated cost of $346 million, according to a Lawrence city commissioner meeting agenda. City officials approved an $86 million tax incentive package to support the project, with a maximum of $94.6 million in public funding available. The total cost of the Gateway Project, including the first phase that renovated much of the stadium and added a conference center, is estimated at $794 million.
University officials said the donation also provides flexibility for athletics programs amid changing NCAA regulations and revenue-sharing structures.
Booth, who earned both undergraduate and master's degrees from Kansas before completing an MBA at the University of Chicago, said he views the gift as an investment in the university's future.
"One of life's greatest privileges is being able to give back to the people and places that gave so much to you," Booth said in a release. "KU and Lawrence are a big part of my story, and it means a lot to support the community that invested in me. Philanthropy, like investing, pays dividends over time. Each gift compounds, creating opportunities not just for today, but for years to come. This is really about the future we're building."
The announcement comes less than two weeks before the Jayhawks' Aug. 23 season opener against Fresno State.
Booth, a Lawrence native and founder of Dimensional Fund Advisors, has a long history of giving to Kansas. His previous contributions include a $50 million gift in 2017 that helped launch renovations at the football stadium, which was later named in his honor.
"David's unprecedented generosity is transformative now and for our future," Kansas athletics director Travis Goff said in a release. "... We're profoundly grateful for David's leadership and extraordinary impact on generations of student-athletes and fans. There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor."
The Gateway District project includes new student housing, a hotel, expanded retail and restaurant space, an outdoor plaza and additional parking. Phase 2 of the project, which aims to finish the south and east sides of the football stadium and develop the surrounding mixed-use district, has an estimated cost of $346 million, according to a Lawrence city commissioner meeting agenda. City officials approved an $86 million tax incentive package to support the project, with a maximum of $94.6 million in public funding available. The total cost of the Gateway Project, including the first phase that renovated much of the stadium and added a conference center, is estimated at $794 million.
University officials said the donation also provides flexibility for athletics programs amid changing NCAA regulations and revenue-sharing structures.
Booth, who earned both undergraduate and master's degrees from Kansas before completing an MBA at the University of Chicago, said he views the gift as an investment in the university's future.
"One of life's greatest privileges is being able to give back to the people and places that gave so much to you," Booth said in a release. "KU and Lawrence are a big part of my story, and it means a lot to support the community that invested in me. Philanthropy, like investing, pays dividends over time. Each gift compounds, creating opportunities not just for today, but for years to come. This is really about the future we're building."
The announcement comes less than two weeks before the Jayhawks' Aug. 23 season opener against Fresno State.
