One of the Big 10’s least-tenured members, Rutgers University, was nearly getting lapped in fundraising by other schools in its conference thanks partially to some personnel troubles in the athletic department. That’s in the past.
Keith Sargent of NJ.com was one of a few select members of the media that Scarlet Knights Athletic Director Pat Hobbs let in on the progress of Rutgers’ latest fundraising initiative this past week, and the news is great for Scarlet Knight alumni.
Rutgers Fundraises B1G Time
Rutgers is over halfway to its $100 million goal, thanks partially to receiving the largest, second-largest and third-largest gifts in the history of the school. A total of 10 donations have been made in the amount of $1 million or more so far.
This fundraising initiative was began in January, and primarily directed at the construction of new athletic facilities along with the renovation of the Hale Center. Plans for construction have begun thanks to the success of the fundraising and some help from the New Jersey legislature.
Rutgers was given $25 million in tax credits at the same time that this fundraising initiative began, enabling the university to draft plans for the end result of its fundraising initiative.
What Hobbs, and all the donors, hope is that the new facilities will put Rutgers on par with the best institutions in major college sports today. It’s been documented how improved facilities can lend toward better in-game performances. What is even more certain is that improved results on the court and the field will lead to increased revenue.
The fundraising and tax credits will also help Rutgers to compete financially over the next five years, during which time the university will be receiving less revenue from the Big 10 than other schools. Maryland and Rutgers, as the conference’s two newest members, aren’t eligible for full shares until 2021.
If these new facilities have the desired effects, the new revenue that will come to Rutgers starting in 2021 will enable Scarlet Knight athletics to pour even more resources into its athletics and academic programs. After some bleak days, things are looking up for Rutgers.
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