SMU Raises More Than $100 Million In One Week To Prep For ACC Future - Big Oil Money Pays Off

It sure didn't take SMU long to raise enough money to offset the upcoming move to the Atlantic Coast Conference in 2024. The Mustangs are bringing millions with them to the ACC, as boosters stepped up for the athletic program.

When SMU decided they wanted to join a bigger conference, there were going to be a number of financial pieces to the puzzle to figure out. One of those was the revenue they would receive from television revenue.

In its proposal to the ACC, Southern Methodist made it clear that the school was willing to forgo media revenue for the first seven years of its membership in the conference. But, the two sides agreed to a roughly 25% share from the ACC, which would come from postseason pools. This might have sounded like a desperation move, but for SMU officials, they knew the money could be raised to offset the revenue.

Southern Methodist Mustangs quarterback Preston Stone (2) warms up before a college football game between against the Southern Methodist Mustangs and against the Louisiana Tech Bulldogs on Sept 2, 2023, at Gerald Ford Stadium in Dallas, TX. (Photo by Chris Leduc/Icon Sportswire via Getty Images)

SMU Boosters Easily Raised $100 Million, With More To Come

All they needed were a few big time donors to step up, and the athletic department would be in a nice spot for when they entered the conference. Turns out, it only took the Mustangs one week to raise over $100 million for the pending move.

"This is an unprecedented financial commitment from a core group of donors who have understood from the beginning that moving to the ACC will be transformational for our University on both athletic and academic levels," said SMU President R. Gerald Turner. "While there is still much work to be done, the ability to rally this kind of support in just one short week demonstrates that SMU and Dallas recognize the excellence of this opportunity and are stepping up to support it."

The money came from thirty different trustees and donors, with another $100 million on the way from a small group of boosters.

"When we announced on September 1 that SMU would be joining the ACC, I was highly confident that we would be able to cover the cost of the transition into what is one of the top three collegiate athletic conferences in the country," said David B. Miller, chair of the SMU Board of Trustees."

Now, all of the oil boosters will get together and help pay for a residency in the ACC over the next ten years. I don't imagine anyone in the ACC is complaining.