LEXINGTON, Ky. (Jan. 16, 2013) ― UK's newly announced partnership between academics and athletics to transform the campus excites new UK Football Coach Mark Stoops.
In the video above, Stoops talks about the importance of UK's initiative to self-finance a dramatic $275 million transformation of the campus.
Last Thursday in Frankfort, Governor Steve Beshear and legislative leaders announced their support for all higher education projects that will be self-financed. UK's three projects represent the largest share of proposed projects. The legislature, which started its session this week, must still approve the projects, which also require formal approval by the UK Board of Trustees. The legislative session lasts until March.
Specifically, the plan calls for UK to completely fund ― through a combination of private funding, internal sources and a unique plan to utilize athletics funding of academics ― three transformative projects:
· A $65 million renovation and expansion of the Gatton College of Business and Economics. The expansion will allow for enrollment growth of more than 50 percent and faculty/staff growth to handle the additional students. Already, UK has commitments of several million dollars in private fundraising thus far to pay for the project.
· Athletics will fund the lion's share of ― along with private donations and other university funds ― a $100 million, 263,000 square foot Academic Science Building, where the Donovan Residence Hall currently sits.
· A $110 million renovation of Nutter Football Training Facility and Commonwealth Stadium, to be paid for entirely by Athletics with the revenues generated by the construction of new luxury suites for which there already is a waiting list and club seating as well as other Athletics revenue. Additional improvements will include upgraded concessions and restrooms and a multi-purpose recruiting room.
Additional information about each project can be found on the website www.BBNunited.com. For updates on these projects, connect with us on Facebook at www.facebook.com/BBNunited and on Twitter, @BBNunited.