Stanford's Future Foe SMU Raises $100 Million For ACC Move
The ACC is set to welcome three new members in 2024 in Stanford, Cal, and SMU which while it was controversial among current members will allow for the conference to reward programs that succeed with more money. There was however a caveat to the conference being able to spread the money around, which comes from the fact that the two Bay Area programs are joining the conference at a discount and SMU is joining for free.
As explained by a CBS Sports report Stanford and Cal will be on the receiving end of 30% television revenue shares for the first seven years, which will increase to 70% in year eight and 75% in year nine. As for SMU, they will not receive any revenue shares for the first nine years they are in the conference. While most would expect this to be a backward move, SMU has a very wealthy and supportive donor base who came through according to reports on Monday.
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Dean Straka of CBS Sports explained that the Dallas-based university received a massive influx of donations this past week.
SMU will forgo television revenue for up to nine years upon joining the ACC in 2024, but the Mustangs' donor base is stepping up to curb any financial disadvantage. The university raised $100 million within a seven-day stretch to support the school's upcoming transition to its new conference, it announced Monday, centering on financial commitments from thirty individuals that include "trustees and key donors."
As well as receiving a huge donation from boosters since news broke that they'll be joining the ACC, SMU has also seen an influx of recruiting success as they currently hold the No. 8 class in the country for 2025.
Stanford also has a very wealthy donor base, who could very well throw out some donations down the line as well.
