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The University of Tennessee athletic department will transfer an additional $1 million to the UT campus, Chancellor Jimmy G. Cheek announced in a press release this morning.
The money is the result of the new television contract signed recently by the Southeastern Conference, the release stated, and will be used to "enhance teaching, learning and graduate education at UT Knoxville.
"I am particularly glad that we will be able to use $800,000 of this sum to enhance graduate education by providing up to 40 graduate assistantships each year to departments and colleges throughout the campus," Cheek said in the release. "This investment in graduate studies at UT Knoxville will have a lasting impact on our ability to recruit and retain top graduate students across the full breadth of our campus."
The athletics department will be making the transfer annually.
The division of the funding will go as follows:
- $100,000 to the Student Success Center, which provides tutoring and counseling services for all UT students.
- $100,000 to the Tennessee Teaching and Learning Center, which provides UT teaching faculty opportunities "for personal and professional growth through programs, services and resources that promote significant learning experiences for students.
- $800,000 to fund up to 40 assistantships for graduate students in colleges and departments across campus.
The $1 million is in addition to more than $7 million in direct cash support the university receives each year.
"We have always had a tremendous relationship with campus," said Mike Hamilton, men's athletics director, in the release. "This money will create more opportunities for UT students to be successful while at UT and provide much needed financial support to our great institution during these tough economic times."
A press conference is being held this morning to announce the contribution.
The SEC's contract was signed with ESPN in August 2008 and takes effect this school year. It calls for conference to receive $2.25 billion over a 15-year period.