Kansas University receives $300 million record-breaking surprise from David Booth, among largest gifts in college sports
The University of Kansas has received a monumental $300 million donation from alumnus David Booth, marking one of the largest gifts in collegiate athletics history. $75 million of the gift will kickstart the second phase of the $448 million renovation of the Jayhawks' football stadium and the adjacent Gateway District.
David Booth, a graduate of both Lawrence High School and KU, is an investing legend and founder of Dimensional Fund Advisors The University of Kansas announced Wednesday it received one of the largest single gifts in the history of college athletics. Kansas has received a $300 million gift from donor David Booth, the largest in school history and believed to be among the richest in the history of college sports, according to news agency Associated Press. The 300 million gift from David Booth comes just days before the Kansas Jayhawks football season's kickoff against Fresno State on August 23.David Booth, a graduate of both Lawrence High School and KU, is an investing legend and founder of Dimensional Fund Advisors — a global investment firm that manages $853 billion in assets as of June 30, 2025. He already has his name on the football stadium.Of that $300 million, $75 million will go toward launching the second phase of a $448 million overhaul of the Jayhawks' football stadium and the abutting Gateway District, a multi-use development planned next to the stadium that includes a new hotel, retail and restaurant spaces, student housing, parking and an outdoor event plaza. Of that $300 million, $75 million will go toward launching the second phase of a $448 million overhaul of the Jayhawks' football stadium and the abutting Gateway District, a multi-use development planned next to the stadium that includes a new hotel, retail and restaurant spaces, student housing, parking and an outdoor event plaza. Kansas athletic director Travis Goff said the remainder of the gift was expected to generate a stream of income for the athletic department that could last for generations. 'There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor,' Goff said.
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Time of India
3 days ago
- Time of India
What is David G. Booth's net worth? Finance mogul donates historic $300 million to University of Kansas athletics and campus
Source: Bloomberg The University of Kansas has announced a transformational, record-setting gift of roughly $300 million from alumnus and investing pioneer David G. Booth. Timed just ahead of the Jayhawks' Aug. 23 football opener, the donation is among the largest single contributions in college athletics and the largest in KU history. Booth's commitment immediately advances Phase II of the KU Gateway District—the mixed-use neighbourhood encircling David Booth Kansas Memorial Stadium—and establishes a durable revenue stream to keep Kansas Athletics competitive long-term. The gift builds on decades of Booth's philanthropy to KU and cements the Gateway project as a civic, athletic, and economic catalyst for Lawrence. David G. Booth net worth: KU alumnus behind historic $300 million gift to University of Kansas Booth, a Lawrence High and KU graduate, co-founded Dimensional Fund Advisors in 1981 and is widely credited with bringing financial-science methods to everyday investing. As of June 30, 2025, Dimensional managed $853 billion in assets, underscoring Booth's stature in global finance. His KU ties are deep: beyond this new gift, Booth has supported the university across athletics and academics for decades including the donation of James Naismith's original rules of basketball and a foundational football-stadium gift that led to the facility bearing his name. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Beautiful Women In The World Undo David G. Booth, with an estimated net worth of $5 billion as reported by Celebrity Net Worth, has been a major benefactor of the University of Kansas. In 2004, he donated $9 million to the Booth Family Hall of Athletics. Married to Suzanne Deal with two children, the couple famously purchased James Naismith's original 13 basketball rules for $4.3 million and donated them to KU, honoring Naismith's legacy as the university's basketball founder and nine-season head coach. Booth's $75 million gift boosts Kansas athletics and Gateway District Phase II Booth's commitment does two things: $75 million is designated to jump-start Gateway District Phase II and continue stadium work. The remainder is structured to generate an ongoing income stream that will fund Kansas Athletics 'across generations,' providing flexibility in an era of revenue sharing and rapid change in the college landscape as reported by University of Kansas Kansas AD Travis Goff called the gift 'transformative' for accelerating construction and creating new, sustainable revenue. Gateway District Phase II adds 162-room hotel, student housing, and event plaza As per the local news reports of Kansas, Phase II extends the mixed-use district on the stadium's east side and is designed to activate the campus edge year-round—not only on game days. Current city-approved plans include: A 162-room hotel connected to the conference center 443 beds of student housing ~43,000 sq. ft. of retail/restaurant/office ~1,000 parking spaces An outdoor event plaza These elements were green-lit alongside a package of local incentives that capped public bonds and set accountability provisions. Ku Gateway District Phase I and II: $450M stadium upgrades and east-side expansion Phase I (southwest, west, and north sides; major football complex upgrades) represents about $450 million in investment and will be complete for the Aug. 23 home opener vs Fresno State. Phase II focuses on the east side of the stadium and the surrounding district components outlined above. While KU has not released a final construction timetable, Booth's gift allows work to move forward after the 2025 season. On August 12, 2025, the Lawrence City Commission approved a package of financial tools—TIF and STAR bond districts among them—worth about $94.6 million to support Phase II (roughly 27% of that phase's costs). The development agreement includes: A cap on public bonding and evidence-of-completion requirements A KU commitment to create an off-campus housing office (within 18 months) City access to up to $14.5 million in new district tax revenues for local corridor and stormwater improvements KU Gateway District to boost tourism, downtown growth, and community relations Commissioners and stakeholders cited the district's potential to drive tourism, support downtown, and enhance Lawrence's town-gown relationship. Beyond bricks and mortar, Booth's design—front-loading construction while endowing a recurring revenue stream—positions KU to remain strategic and innovative amid new financial realities (e.g., revenue sharing, NIL, conference realignment). The approach gives Kansas the capacity to invest in programs sustainably, rather than relying solely on annual fundraising cycles. Booth's Long KU legacy: From Naismith's rules to a reimagined stadium Booth's philanthropy spans decades: 2004–2011: Support for the Booth Family Hall of Athletics and donation of Naismith's original rules, now displayed at the DeBruce Center. 2017–2018: A $50 million foundational stadium gift and, subsequently, the naming of David Booth Kansas Memorial Stadium. 2025: The new ~$300 million commitment to propel Gateway Phase II and secure long-term athletics funding. Also Read | This African country has no mobile internet access; here's the surprising truth behind its digital blackout
Hindustan Times
4 days ago
- Hindustan Times
What is David G. Booth's net worth? Dimensional Fund Advisors CEO donates historic $300mn to KU Athletics
The University of Kansas revealed a rare donation from Austin, Texas, alumnus David G. Booth, just days before the Kansas Jayhawks football season is scheduled to kick start on August 23 against Fresno State. The remarkable donation, which amounts to over $300 million, is the biggest in the history of the University of Kansas and Kansas Athletics. It is also one of the highest single contributions in college athletics. David G. Booth's net worth is estimated to be $5 billion, as per Celebrity Net Worth.(Dimensional Fund Advisors) Booth, a legend in the world of finance, attended both Lawrence High School and KU. He founded Dimensional Fund Advisors, a global investment firm that, as of June 30, 2025, managed $853 billion in assets. As part of his visionary donation, Booth challenges additional benefactors to contribute $75 million, which kickstarts the next stage of development on the Gateway District and David Booth Kansas Memorial Stadium. Travis Goff, vice chancellor and director of KU athletics, stated that David's extraordinary generosity will accelerate new 'Booth' and phase II of the Gateway District. He hailed David's leadership and remarkable influence on generations of student-athletes. 'There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor.' Booth's dedication will drive the next phase of the Gateway District, which includes additional public and private investment for a new hotel, more dining options, student housing, better parking, and an outdoor event plaza. Kansas Athletics will be able to remain strategic, creative, and a leader in college athletics with the remaining portion of Booth's donation. Also Read: Buccaneers rookie Desmond Watson asked to lose weight before NFL debut What is David Booth's net worth? David G. Booth's net worth is estimated to be $5 billion, as per Celebrity Net Worth. In 2004, he contributed $9 million to the construction of The University of Kansas' Booth Family Hall of Athletics. In 1998, he married Suzanne Deal, and they have two kids together. It made headlines when David and Suzanne spent $4.3 million to buy the original basketball rules, which were drafted by sport's founder James Naismith. Booth handed over the 13-rule paper to the University of Kansas. Naismith established the basketball program at the University of Kansas and later served as the school's coach for nine seasons.
Time of India
4 days ago
- Time of India
This man just gave KU $300 million, the largest gift in school history. Who exactly is David Booth? Here's his story
David Booth , an alumnus of the University of Kansas , has given the school an amazing $300 million donation. This is one of the biggest single gifts in the history of college sports. This record-breaking donation will change the future of Kansas football and help the school's entire athletic program in the long term. The money will be used to make the Jayhawks ' football facilities better and help the school's sports programs grow in the future. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program This unprecedented funding will help speed up renovations to the stadium and create new sources of income, taking Kansas college sports to a whole new level. It also makes David Booth one of the most important people at the university in recent history, as per a report by ESPN. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Family Adopted A New 'Dog', But When The Vet Sees It He Calls The Police Undo ALSO READ: Every iPhone 17 model gets upgrades — here's the full breakdown and what's new across every model How will this change Kansas Football? Live Events Kansas will use $75 million from Booth's gift to pay for the second phase of renovations at David Booth Kansas Memorial Stadium. This phase will focus on making improvements to the east side of the stadium. Construction is set to start after the 2025 football season. The improvements will come after the first phase of the Gateway District project, which cost $450 million and included major upgrades to the Anderson Family Football Complex and the southwest, west, and north sections of the stadium, as per a report by ESPN. The Jayhawks will play their first home game in the new stadium on August 23, 2025, against Fresno State. This will happen after Phase 1 is over. For the time being, home games will be played in the Kansas City area during the 2024 season, as per a report by ESPN. ALSO READ: Orca attack mystery: What really happened to marine trainer Jessica Radcliffe What makes David Booth's gift so important? David Booth, who is from Kansas and started Dimensional Fund Advisors, has been a supporter of KU for a long time. He gave $50 million in 2017 to start renovations on the century-old Memorial Stadium, which is now named after him. But this new $300 million donation takes his legacy to a whole new level. Travis Goff, the athletic director, said, "This gift has a huge effect on our top priority right away, and it also gives us an amazing source of income that lets us invest in new ways in the future of Kansas athletics,' as per a report by ESPN. Booth called the gift an investment in the community that made him who he is, "Philanthropy, like investing, pays off over time." Each gift adds up, making chances not just for today, but for years to come. What will happen in the Gateway District? Besides making the stadium better, Phase 2 of the Gateway District will bring a huge redevelopment to the east of the stadium. Plans call for a new hotel, an outdoor event plaza, student housing, stores and restaurants, and more parking. The Lawrence City Commission has approved a $94 million package of financial and tax incentives to help pay for this phase, which is expected to cost $360 million, as per a report by ESPN. The university sees the Gateway District as more than just a sports project. It's a plan for a lively hub near campus that will help students, fans, and the Lawrence community as a whole, as per a report by ESPN. With the stadium renovation and the Gateway District expansion coming up, this gift puts KU in a better position to compete in terms of facilities, fan experience, and financial stability. It's a real game-changer for the Jayhawks. FAQs Who gave $300 million to Kansas Athletics? David Booth, a KU alumnus and investor, made the record-breaking gift. How will the money be used? $75 million is allocated to stadium renovations, with the remainder funding ongoing athletic revenue.
