Today, the athletic department announced the start of a new fund dedicated to enhancing basketball and improving the program long term. The fund has a nice nest egg at its inception as ten donors have pledged a combined one million dollars over the next five years prior to the public launch.
As Duquesne completed one capital campaign, it appears the athletic department has begun a less formal drive of their own. While Greg Amodio has raised funds with a specific project in mind in the past, this marks the first time where his athletic department has sought to create a general sustaining fund for basketball since he took over the department nine years ago.
It appears that Duquesne’s out in front of most of the Atlantic 10 on a dedicated basketball fund. Not surprisingly, Xavier has a well established endowment bearing a similar name, but only UMass, George Mason and Richmond have sport specific, sustaining accounts that I could find.
I think this is an exciting development and I’m looking forward to updates on further growth to the fund. Since his hiring, Amodio has sought new revenues and better allocation for the money they already spend. This hasn’t always endeared him with fans as many of his decisions like cutting several sports and adding seat licenses were not popular. Regardless of consensus, the resulting in flow of new revenue has allowed him to grow the department and provide above median Atlantic 10 support for men’s basketball. Fiscally, the athletic department has advanced light years over the last ten, and I think the fund for basketball excellence will help to continue that trend.