Kansas announces $300 million gift, one of the largest in college athletics history

Any time your university announces a $300 million gift, it's a good day. Wednesday, Aug. 13, 2025, is a good day at the University of Kansas.

Okay, that might not be the best descriptor there. The $300 million gift is the largest in KU history and, the school says, is "among the largest in the history of college athletics."

The gift comes from David Booth, the namesake of the football stadium that's in the process of being transformed from one of college football's worst to one of its best. Booth donated $50 million in 2017 to get his name on the stadium; Wednesday's gift is a quarter of a billion dollars beyond that.

Booth, 78, grew up down the street from Phog Allen Fieldhouse -- his address was 1931 Naismith Drive -- and worked at KU football and basketball games as a youngster before earning a BA in 1968 and a Master's in 1969. He'd go on to earning an MBA from the University of Chicago in 1971, where he generated the connections that led to today. A co-founder of Dimensional Fund Advisors, Booth's firm manages more than $850 billion in assets and as created a personal fortune that Forbes estimates at $2.8 billion. He previously gave $300 million to Chicago's business school in 2008, in addition to eight figures' worth of gifts to KU over the years. In addition to the $50 million gift in 2017, he's donated nearly $10 million to the Jayhawks' hall of fame (which now carries his family's name) and also donated James Naismith's original rules of basketball to the hall.

Booth said Wednesday that the $300 million gift to KU athletics will benefit both the school as well as residents of Kansas who never attended the university.

"I feel the same inspiration that I felt as an usher in the stadium in 1960," Booth said. "I was blown away by all the people in the stands, the Jayhawk spirit. I'm feeling the same way now — I'm ready to celebrate with everyone."   

Kansas will use Booth's $300 million to kickstart the second phase of its ongoing stadium project. KU plans to infuse the Gateway District, an area adjacent to Booth Stadium that will mix academic, athletics and commercial space that's expected to generate income for KU and the Jayhawks. 

Of course, we're in an age now where schools no longer fundraise to build facilities that they hope will attract and retain athletes, they can cut out the middleman and pay them directly. See: Campbell, Cody and Tech, Texas. Though it's wrapped in a bit of legalese, Kansas will use part of Booth's donation to pay players. From the school:

The remainder of Booth's gift will allow Kansas Athletics to be strategic, innovative and maintain a leadership position in college athletics. With the advent of revenue sharing and the continued changes in NCAA and conference dynamics, his generosity will help enable KU to take the next step in cementing itself as a national leader in college athletics.

In short, Kansas says it will use $75 million to jumpstart the Gateway District, and the remaining $225 million as, essentially, an endowment to fund KU's revenue share. The House Settlement revenue cap is $20.5 million for the 2025-26 academic year; a 10 percent return on $225 million is $22.5 million, allowing KU to continue funding its athletics department as usual.

"David's unprecedented generosity is transformative now and for our future," said KU AD Travis Goff. "It accelerates phase II of the Gateway District and the new 'Booth' and inspires others to step up and join in completing this vision. We're profoundly grateful for David's leadership and extraordinary impact on generations of student-athletes and fans. There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor." 

Fortunate is an understatement.