Kansas targets soccer upgrades, new income from $300M reward

The University of Kansas has acquired an unprecedented $300 million reward from donor David Booth, believed to be among the many largest single presents within the historical past of school athletics and the biggest at school historical past.

Kansas plans to allocate $75 million of Booth’s reward towards launching the second part of its ongoing transformation of David Booth Kansas Memorial Stadium and development of the encircling Gateway District, Kansas athletic director Travis Goff advised ESPN.

Though college officers haven’t revealed a timetable for development and completion of Phase 2, the funds will permit Kansas to maneuver ahead with renovating the east facet of the stadium after the 2025 soccer season.

The the rest of Booth’s reward will set up an annual further income stream for Kansas athletics, Goff mentioned.

“I’d say it’s transformative and a game changer,” Goff advised ESPN. “This gift makes an immediate impact on our top priority in a profound way, and it also provides us with an incredible revenue stream that gives us a chance to really invest in unique ways in the future of Kansas athletics.”

Kansas has already invested $450 million within the first part of the Gateway District challenge, which included an overhaul of the southwest, west and north sides of the stadium and a significant renovation of the Anderson Family Football Complex. Stadium development bought underway on the finish of the 2023 soccer season and will likely be accomplished in time for the Jayhawks’ season opener later this month.

The second part of the Gateway District challenge would additionally carry the event of a brand new resort, outside occasion plaza, scholar housing, retail and restaurant areas and parking positioned east of Kansas Memorial Stadium.

The complete value of Phase 2 — ending the stadium and the mixed-use growth — is estimated to be $360 million. Lawrence metropolis commissioners voted Tuesday night time to approve a bundle of monetary and tax incentives value round $94 million to assist the challenge.

Kansas Memorial Stadium was named after Booth, a KU graduate and founding father of international funding agency Dimensional Fund Advisors, in 2018. The Lawrence, Kansas, native beforehand supplied a foundational reward of $50 million in 2017 to kick off renovations of Memorial Stadium, however the college did not transfer ahead with renovating its greater than 100-year-old stadium till Goff and chancellor Douglas Girod introduced plans for the Gateway District in 2022.

“One of life’s greatest privileges is being able to give back to the people and places that gave so much to you,” Booth mentioned in an announcement. “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.”

After enjoying their six residence video games within the Kansas City space throughout the 2024 season, the Jayhawks will open the season with their first residence sport contained in the renovated Kansas Memorial Stadium on Aug. 23 in opposition to Fresno State.