The University of Kansas has received a record-breaking $300 million gift from donor David Booth, making it one of the largest single gifts in college athletics history and the largest in school history. The funds will be used to renovate the east side of the stadium after the 2025 football season.
Kansas plans to allocate $75 million towards this renovation, with the remaining $225 million creating an annual revenue stream for the university’s athletics department. “This gift is transformative and a game changer,” said Kansas athletic director Travis Goff. “It provides us with an incredible revenue stream that will allow us to invest in unique ways in the future of Kansas athletics.”
The second phase of the Gateway District project, which will also include the construction of a new hotel, outdoor event plaza, student housing, retail and restaurant spaces, and parking, is estimated to cost $360 million. Lawrence city commissioners have approved financial and tax incentives worth around $94 million to support the project.
Kansas Memorial Stadium was previously renamed in honor of Booth, a KU graduate and founder of Dimensional Fund Advisors. The stadium’s renovation is a culmination of plans announced by Goff and chancellor Douglas Girod in 2022, which aimed to transform the surrounding area into the Gateway District.
The university has already invested $450 million in the first phase of the project and will begin construction on the new development after the football season. The Jayhawks will open their season with a home game inside the renovated stadium on August 23 against Fresno State.
Source: https://www.espn.com/college-sports/story/_/id/45963661/kansas-target-football-upgrades-new-revenue-300m-gift