University of Missouri announces $40 million in contributions to athletics department
COLUMBIA, Mo. (KMIZ)
University of Missouri leaders have reprised their commitment to aiding the success of its 20 athletics programs and more than 550 student-athletes.
The university announced it has contributed $40 million to its athletics department, including $25 million in direct support and a $15 million internal loan. The loan to athletics was issued to cover an operating deficit for the 2024 Fiscal Year.
“This decision reflects a shared commitment to Mizzou athletics’ championship culture,” UM Board of Curators Chair Todd Graves said in Wednesday's press release. “The momentum of Mizzou Athletics is undeniable. Now is the time to make the necessary investments to execute our plans to be highly competitive in the SEC for our university and the state of Missouri. Our athletics programs are on their way to new heights, and the board backs the vision and plans to provide institutional support during this transformational time.”
University leaders made this strategic investment amid the ever-changing landscape of college sports to continue pursuing its vision of its athletics programs: to compete at the highest levels and win championships. Officials also highlighted the competitiveness of the SEC in athletics, a conference that currently features nine ranked men's basketball teams, seven ranked women's basketball programs and finished with seven ranked teams in the final 2024 College Football Playoff (CFP) poll, along with more high-caliber competition in olympic sports.
“The University of Missouri is committed to achieving excellence through meaningful investments,” University of Missouri President Mun Choi said in the press release. “During a time of unprecedented change in college athletics, it is necessary to support the success of our programs, which are elevating Mizzou’s stature.”
