Scott Woodward, the new university athletic director, took his previous month’s statements further in a speech to the Baton Rouge Rotary Club on Wednesday, according to the Greater Baton Rouge Business Report.
Woodward said the athletic department will likely discontinue their transfer-fund policy next. The policy transfers some of the athletic department’s profits to the LSU General Fund. In a press conference in July, Woodward announced the policy would be reevaluated.
“We are going to start looking at providing one-time funding to the University, whether for a building or some improvements that are needed or something like that,” Woodward said, “But this year, the University will get its full $11 million.”
The policy began under Joe Alleva, previous athletic director in 2012. At the time of its implementation, the University struggled with declining enrollment and slashed state appropriations. Since 2012, nearly $66 million has been transferred to University academics. Under the agreement, athletics transferred $7.2 million annually and a portion of its surplus.
Woodward said he was sympathetic to the University’s academic cause and understands the thinking behind the agreement.
“I watched it from afar,” Woodward said. “Joe Alleva did the right thing.”