University of Texas at Austin Declares Largest Endowment of a Named Athletics Director Position
The University of Texas at Austin announces a $10 million endowment from Lois and Richard Folger to create the largest endowment to a named athletics director in the country. The Lois and Richard Folger Athletics Director Endowment will provide perpetual flexible funding for non-salaried strategic use, empowering the athletics director to launch new initiatives and enhance the excellence of Texas Athletics for years to come.
“Lois and Richard Folger understand the importance of the Texas Longhorns’ winning tradition and our ability to compete at the highest levels,” said Kevin Eltife, chairman of the UT System Board of Regents. “The Folgers’ generous endowment positions the Longhorns to build on that winning history when Texas enters the SEC next year and will have an immediate and positive impact on our athletics programs, our student-athletes and the rest of the University.”
“The legacy of excellence of Texas Athletics has inspired many of us, including Lois and Richard Folger. They know the role that athletics plays in elevating the entire University by contributing to the vibrancy of campus, connecting Longhorn Nation, and providing incredible opportunities for student-athletes,” said President Jay Hartzell. “We are extremely grateful for the Folgers’ longstanding generosity to the University and excited to see how Chris Del Conte will utilize these resources strategically to improve the support of our student-athletes, generate more passion for our University across the student body, position our former student-athletes for post-UT success, and provide a laboratory for our students and faculty with interests in sports.”
“Lois and Richard’s endowment of the athletics director’s chair is another example of the tremendous generosity, dedication and excellence personified by our most involved Longhorns,” said Chris Del Conte, UT director of athletics. “Lois and Richard have provided vital funding that will make an immediate impact on our department, and most importantly, our student-athletes. I am honored, humbled and thrilled to be the first-ever Lois and Richard Folger Athletics Director. Their support has created a legacy that will permeate through our entire department for years to come.”
“This gift will support student-athletes in their pursuit of academic and athletic excellence,” said the Folgers. “It is important that Texas Athletics continues to set a national standard for integrity and provide exceptional game day experiences and lifelong connections for our students, alumni and Longhorn fans worldwide. We believe strongly in UT’s leadership and know that this investment is important to the future success and growth of the state of Texas and its flagship University.”