LSU Athletics to Transfer $10M to University

LSU Athletics will be giving the university some financial help. LSU's athletic department will transfer $10 million to the university -- about $3 million more than its required payment.

LSU's main campus receives a guaranteed $7.2 million from its athletics program each year. That's according to the athletics funds transfer policy approved by the Board of Supervisors in 2012. In a news release, the athletic department said a surplus this year allowed for an additional $2.85 million to be given to the university.

Facing budgets cuts, LSU President F. King Alexander said in mid-March that the school's administration was exploring ways to increase that annual $7.2 million transfer.

LSU is one of only seven athletic departments in the country that relies solely on self-generated revenue and doesn't take student fees.