THE University of Kansas will be able to make upgrades to its football season thanks to a historic gift from a billionaire donor.
Kansas received a historic $300 million donation on Wednesday.
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Just days before the Kansas Jayhawks begin their college football season, on August 23, the school announced an unprecedented gift.
Kansas revealed that it received a $300 million gift from alumnus David G. Booth.
The gift is the largest in Kansas’ history and is among the largest single gifts in the history of college sports.
Kansas plans to put $75 million of Booth’s gift toward beginning the second phase of its ongoing transformation of David Booth Kansas Memorial Stadium and construction of the Gateway District, Kansas athletic director Travis Goff told ESPN.
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The Jayhawks’ venue is named after Booth.
The funds will let Kansas move forward with renovating the east side of the stadium after the 2025 season.
The remainder of the donation will begin an annual additional revenue stream for Kansas athletics, Goff told the outlet.
“I’d say it’s transformative and a game changer,” Goff said.
“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 hasn’t shared a specific timetable for the construction and completion of the second phase of the renovation.
The school has invested $450 million in the first phase of the Gateway District project, which redefined the southwest, west, and north sides of the stadium and included a renovation of the Anderson Family Football Complex.
The second phase will also bring the development of a new hotel, outdoor event plaza, student housing, retail and restaurant spaces, and parking lots.
The Lawrence, Kansas native is an investing icon and the founder of Dimensional Fund Advisors, which is a firm that manages $853 billion in assets as of June.
Booth previously gave a gift of $50 million in 2017 to start renovations of Memorial Stadium, but the university didn’t begin renovating the more than 100-year-old stadium until Kansas athletic director Travis Goff announced plans for the Gateway District in 2022.
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For Booth, he wants his money contributions to help others support the Gateway District Projects.
“One of life’s greatest privileges is being able to give back to the people and places that gave so much to you,” Booth said.
“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.”
The Jayhawks will open the 2025 season with their first home game inside the renovated Kansas Memorial Stadium on August 23 against Fresno State.
