June 8, 2006
UA Athletics Makes $1 Million Gift to Scholarship Fund
TUSCALOOSA, Ala. -- The University of Alabama announced today that the department of intercollegiate athletics has made a $1 million gift to the University’s general scholarship fund in support of the “Our Students. Our Future.” campaign. The gift to the campaign comes from an operating reserve created by Athletics’ revenue generating sources.
“As a result of good fiscal management, Athletics had a positive year and we want to be good stewards of those funds,” said UA Director of Athletics Mal Moore. “We are very pleased to support the University’s scholarship initiative and be a partner in achieving its campaign goal.” Athletics has made previous gifts to the University including several during Coach Paul W. Bryant’s tenure.
“It is important for the University to maximize the potential of the department of intercollegiate athletics in achieving our vision of excellence,” said UA President Robert E. Witt. “These scholarship funds will fuel our momentum in becoming a ‘university of choice’ for the best and brightest students.”
Athletics’ revenue sources include strong ticket sales, Tide Pride, sponsorships, licensing agreements and increased conference revenue from bowl game and NCAA tournament participation. Sports with strong ticket sales include football, men’s basketball, baseball, gymnastics and softball.
The “Our Students. Our Future.” campaign’s $500 million goal includes $250 million for student scholarships. The remaining funds are allocated to faculty support, facilities and priority needs. The campaign has raised more than $299 million since 2002.