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Business

The changing college sports landscape has women’s programs turning to philanthropy as funding dries up

Fortune ·
The changing college sports landscape has women’s programs turning to philanthropy as funding dries up

While interest in women’s sports is booming and Olympic sports organizers lock in preparations for the 2028 Summer Games in Los Angeles, advocates worry that the college athletic programs that feed both those systems may be strained further by increased demands from bigger sports .

Olympic sports haven’t had the opportunity to thrive on their own, according to Women’s Sports Foundation CEO Danette Leighton, because the business has centered one product: college football.

Leighton is calling on donors to set the agenda.

Philanthropy can protect those teams, she said, by endowing scholarships for women’s gymnastics or men’s tennis.

“There are a lot of philanthropists that are really passionate about women’s sports or men’s Olympic sports,” she said.

“They should make sure that that’s where their funding is going directly.” College sports programs produce around three-quarters of the U.S.

Olympians at a typical Summer Games, but some are on uncertain footing in the wake of the $2.8 billion House settlement that allows schools to share more than $20 million in revenue directly with their athletes every year.

Most of that money goes to football and basketball.

A bill before the Senate would require protections — and funding — for Olympic and women’s sports.

Some worry that efforts to commercialize the most lucrative sports are creating a bit of a Catch-22.

Schools risk losing the whole athletic department if they fail to keep up with name, image and likeness opportunities, according to Celene Funke.

“You lose donors, you lose ticket sales, you lose all those things.

Unfortunately, yes, that does have to come first,” said Funke, a former Louisville softball player who helps athletes navigate this new world as a financial adviser.

“The problem is there’s not enough guardrails to ensure the back end looks all right as well.” Tennessee Education Lottery CEO Rebecca Paul established a $12 million estate gift last year for Butler University to create an endowed fund for women’s athletics.

Read the full article on Fortune ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on fortune.com — the content belongs to Fortune.

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