After years of relying on gambling revenues and private investors to fund college athletics, University of Kansas Chancellor Douglas Girod has announced that the system “will have to get turned on its head” in order to ensure the long-term sustainability of collegiate sports programs.
Girod made the remarks during a recent Town Talk event, where he addressed the challenges facing college athletics in the wake of the COVID-19 pandemic. With traditional revenue sources such as ticket sales and television contracts drying up, universities are being forced to find new ways to finance their sports programs.
One of the key issues facing college athletics is the dependence on gambling revenues. Many schools have entered into partnerships with sports betting companies in recent years, but Girod believes that this reliance on gambling money is unsustainable in the long run.
“We have to be very careful about who we partner with and how we associate ourselves with the gambling industry,” Girod said. “We have to make sure that we are not compromising the integrity of our sports programs.”
In addition to concerns about gambling revenue, Girod also highlighted the need for universities to attract private investors to help fund their sports programs. While some schools have been successful in securing substantial investments from wealthy individuals and corporations, many others have struggled to generate the necessary funds.
Girod acknowledged that the current model of funding college athletics is not working, and that universities will need to explore new ways of generating revenue in order to survive in the post-pandemic world.
“We are going to have to get creative and think outside the box,” Girod said. “We need to find new revenue streams and develop innovative partnerships in order to ensure the future of college athletics.”
Despite the challenges facing college athletics, Girod expressed confidence that universities will be able to adapt and thrive in the years to come.
“We have a strong tradition of excellence in college sports, and I believe that we can build on that foundation to create a bright future for our student-athletes,” Girod said. “It won’t be easy, but I am confident that we can rise to the challenge and come out stronger on the other side.”