A $1 million donation from Holzer Clinic allowed Ohio University's Athletics Department to take what an official called one of the largest steps forward to filling the $700,000 hole in its budget.
Holzer and OU announced the donation ' the largest corporate sponsorship of OU Athletics ' late last month. Athletics will receive $200,000 annually from Holzer for the next five years, $50,000 of which each year will go into the Ohio Athletics Operational Endowment Campaign.
The money will go into the department's general revenue budget. The endowment was created in January with the goal of raising $2.5 million for OU Athletics.
Luke Sayers, general manager of International Sports Properties at OU, said the department hasn't decided how the money will be spent. ISP, based in Winston-Salem, N.C., manages media rights and sponsorships for the athletics department.
The donation took more than a year to secure, Sayers said.
Earlier this year, it was discovered that the athletics department deliberately submitted an incomplete budget for fiscal year 2008, leaving out about $700,000 in expenses.
Through these corporate sponsorships
we're trying to secure the financial stability of the athletics department Sayers said. One of the things we want to do is get unrestricted funds that we can count on every year to assist our department.
In return for the donation, Holzer, which plans to open a new clinic on East State Street in the fall, will receive increased advertising.
The clinic will be extremely recognizable Sayers said, whether you're listening to the game on the radio
watching it from The Convo or sitting in Peden Stadium.
With OU Athletics' capability to bring in people from all over southeastern Ohio, Steve Davies, Holzer's director of Operations in Athens, said Holzer's contribution will not just help athletics, but the region as a whole.
(Athletics has) fallen on tough times financially
and it doesn't do the community any good
and it's not good for Athens or southeastern Ohio if the athletics department continues to falter
Davies said. We're not fixing all their problems
but we are helping.
Holzer currently funds two $2,000-per-year scholarships for third- and fourth-year medical students. Holzer physicians lecture at OU's College of Osteopathic Medicine and also assist faculty members with research projects, Davies said.
17
Archives
