News & Updates
News & Updates
AUGUST 31, 2020
Razorback Foundation Launches ONE Razorback Fund
ONE Razorback Fund will assist with additional costs due to ongoing effects of COVID-19
FAYETTEVILLE – Today the Razorback Foundation announced the launch of the ONE Razorback Fund to help support student-athletes during the COVID-19 pandemic. The ONE Razorback Fund was established to create a philanthropic opportunity for every fan, friend, alumnus or Razorback Foundation member to support student-athletes with a tax-deductible gift.
“In times of uncertainty, Razorbacks unite, and I have no doubt, we will do that now,” Vice Chancellor and Director of Athletics Hunter Yurachek said. “Our student-athletes continue to work every day to achieve their goals of earning their college degree and competing at the highest level, despite the many challenges they are currently facing. The ONE Razorback Fund is a perfect way for us to join together to help meet the needs of our student-athletes while ensuring we remain competitive our SEC peers.”
The total annual investment for all student-athletes on campus is more than $30 million per year. This investment includes scholarships, with nutrition, physical and mental health, academic support, career counseling, maintaining facilities for ongoing athletic training and competition, and other expenses. And this year, additional expenses will be incurred to safeguard the health, safety and well-being of the student-athletes in all sports during the pandemic. An additional $500,000 investment for financial aid will also be required to support the 22 seniors who chose to return for another year after their seasons were cut short last spring.
Earlier this month, the University of Arkansas Department of Intercollegiate Athletics announced millions of dollars in operating budget cuts to combat the significant revenue loss due to the unprecedented effects of the pandemic resulting in canceled games and reduced stadium capacities. The Razorback Foundation also made similar budget reductions. Budget cuts include staff compensation reductions, travel restrictions and imposing a hiring freeze, all while still ensuring that Razorback student-athletes remain the top priority.
The Department of Athletics is one of only a handful of athletic programs in the nation that is financially self-sustaining, receiving $0 from state or taxpayer funding or university funding, relying on ticket sales, sponsorships and donations.
“We know the pandemic has affected every person in the world, and the Arkansas Razorbacks are no exception,” Scott Varady, Razorback Foundation executive director stated. “The ONE Razorback Fund is an opportunity for all Razorback fans to unite as ONE Razorback to support and continue making a positive difference in the lives of our student-athletes during this challenging year.”
Contributing to the ONE Razorback Fund is open to all Razorback fans and may be done in multiple ways:
- Text ONERazorback to 91999
- Online at RazorbackFoundation.com
- Call the Razorback Foundation at 479-443-9000
- Mail a check to The Razorback Foundation, Inc. at 1295 S. Razorback Rd., Ste. A Fayetteville, AR 72701