MANHATTAN — Kansas State announced Tuesday that its athletic department will phase out university funding over three years.
This year, the university's portion of the athletic budget was $1.526 million, or 3 percent of a $47 million budget. The amount falls to $1 million next year, $750,000 in 2012-13 and $350,000 in 2013-14 before no allocations in 2014-15..
In a statement, K-State president Kirk Schulz and athletic director John Currie said the move is being made to help support academic programs and projects.
"Adding value to the greater university and operating with fiscal responsibility are two of our five core goals," Currie said.
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Nebraska, which is on its way out of the Big 12 after spring sports end, uses a similar system in which its athletic department is self-supported and does not rely on university funding.
K-State was able to follow that model in large part because of the new Fox Sports TV deal signed by the Big 12, which will help contribute approximately $20 million in conference-generated revenue to league schools.