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Andy Fahey

Undergraduate students interested in professional sports careers are getting new fields to play on at Washington University in St. Louis, thanks to a new minor offered by Olin Business School and a major boost from Warriors Co-Executive Chairman and CEO Joe Lacob.

With a gift of $1 million from Lacob, the Olin Business School launched the new BSBA minor in the Business of Sports this fall.  The Warriors, under Lacob’s guidance, were named “Sports Team of the Year” by the Sports Business Journal/Daily in May at the seventh annual Sports Business Awards.

To launch the program, Lacob visited the Washington University campus on Monday, Oct. 13 and delivered the inaugural address for the Joseph S. Lacob Business of Sports Speaker Series. The event was held in Olin’s Frick Forum, located in Knight Hall.

“It’s a tremendous honor to be associated with a unique program at WU that I hope will have a lasting impact and, most importantly, contribute to our next generation of great sports executives,” said Lacob. “The business of sports is an incredibly exciting field and one that offers a wide and ever-growing variety of career options. I’m elated that I might be able to play a small role in the education and development of current and future students at WU as they potentially pursue a life in this fascinating industry.”

Olin Business School began offering a minor in the business of sports this fall. Under the direction of Todd Milbourn, PhD, senior associate dean of faculty and research, and the Hubert C. &amp; Dorothy R. Moog Professor of Finance, it is open to all students at the university and formalizes a popular mini-course in sports management Milbourn began six years ago.

“Since Olin began offering the sports management mini-course in 2008, it has remained incredibly popular, attracting around 40-45 undergraduates each spring, along with another 40-45 graduate students,” Milbourn says.

Expanding the mini-course into a full-fledged minor meant adding two new courses: The Business of Sports, and Business Leaders in Sports &amp; Contemporary Issues.

The rationale behind introducing the new program as a minor arose from the guiding principle that it should be an overlay to students’ foundational coursework.

“As a minor, it provides an opportunity to learn about the business of sports and develop avenues for career opportunities in the industry,” Milbourn explains. “To this end, Olin will encourage students who are interested in the subject to choose a traditional major and make that the focus of study, as our goal is to teach functional business acumen with applications for the business of sports.”

According to Milbourn, establishing this new academic concentration positions WUSTL as the only top 5 undergraduate business school in the country offering this specialized focus.

“We are very grateful for the generosity of Joe Lacob and his family for supporting an important new academic program that will prepare our students for the next generation of leaders in the many fields of sports management,” says Chancellor Mark S. Wrighton.

“Sports is a growing industry and in need of managers with a wide range of business skills, including brand management, finance, communications, and sales. With the generous support of the Lacob family, Olin will be able to offer students a unique opportunity to prepare for careers in this dynamic multi-billion dollar industry,” says Dean Mahendra Gupta, the Geraldine J. and Robert L. Virgil Professor of Accounting and Management.

Lacob is the father of Kent Lacob, a senior in Arts &amp; Sciences and a captain of the men’s basketball team

The Joseph S. Lacob Business of Sports program is comprised of three components:

In his role as Co-Executive Chairman &amp; CEO, Joe Lacob is the co-managing member of the Golden State Warriors’ ownership group.  He serves on the NBA Board of Governors and is a member of the league’s Competition Committee, Planning Committee and Labor Committee.

Since making a then-record-setting bid to purchase his hometown NBA club – a longtime dream of the Atherton resident – and assuming control of the team on November 12, 2010, Lacob has been the driving force behind many of the creative changes that have transpired with the organization, including several major announcements, prominent personnel additions and an emphasis on transparency.  Last season, Lacob’s fourth as owner, the Warriors finished with a 51-31 record and returned to the playoffs for a second-straight season, marking the team’s first consecutive playoff appearances in 22 years (since 1991-92).  Off the court, the Warriors were named “Sports Team of the Year” by the Sports Business Journal/Daily, in recognition of the organization’s innovative and successful business practices.  Additionally, over the last year, the revamped Warriors Foundation has distributed over $1 million in grants to deserving Bay Area organizations.

In April 2014, the Warriors announced that the team had completed a deal to purchase land in San Francisco’s Mission Bay neighborhood, where the team intends to build a new state-of-the-art sports and entertainment center.  In addition to making monumental commitments to the team’s future, Lacob has taken an active role in connecting the current Warriors organization with its rich history.  In 2012, Lacob saw to it that one of the most beloved players in franchise history, Chris Mullin, received the honor of having his #17 jersey raised to the rafters at Oracle Arena, becoming the sixth player in franchise history to have his number retired.

During his first full offseason as owner in the summer of 2011, Lacob recruited two of the most experienced, successful and respected individuals in NBA circles to join the organization, landing NBA Hall of Famer and basketball icon Jerry West as an executive board member, and hiring longtime league and team executive Rick Welts as president and chief operating officer.  Additionally, Lacob played a significant role in the hiring of successful sports agent Bob Myers, who is now the club’s general manager.  In an effort to connect with the team’s supporters and open the lines of communication, Lacob has engaged with fans via a wide variety of outlets, including in-studio visits to local radio and TV stations, season ticket holder conference calls, exclusive game-night events and direct one-on-one meetings. He has also been a frequent guest speaker at various local and national sports seminars.

Lacob’s NBA and professional sports experience dates back over two decades, including a five-year tenure as minority owner of the Boston Celtics, where he served on the basketball committee. He earned an NBA World Championship ring in 2008 with the storied franchise before selling his minority stake to purchase the Warriors.

Lacob has been a partner of Menlo Park, California, based Kleiner Perkins Caufield &amp; Byers since 1987. Though still a partner in the firm, he has relinquished his managing partner role in order to pursue his lifelong goal of owning and operating an NBA team. In his role as a venture capitalist, he has led investments in over 50 start-up companies across multiple fields in life sciences and medical technologies, the internet and energy.

Lacob earned a Bachelor’s in Biological Sciences from the University of California-Irvine, a Master’s in Public Health (Epidemiology) from UCLA and an M.B.A. from the Stanford Graduate School of Business. He credits his Master’s degree in Epidemiology (biostatistics) with providing him a background in statistics that helped drive his passion for sports. It also played a role in his decision to invest in Sportsline – one of the first sports internet sites – and one of Lacob’s earliest sports success stories.  He was also a primary investor and pioneer of the American Basketball League, a professional women’s basketball league that eventually lost out to the WNBA.  Lacob continues as one of the original partners in the Pebble Beach Company, an effort formed to bring the historic Pebble Beach resort and golf course back to long-term American ownership.  Additionally, Lacob has been involved with Stanford basketball for over 25 years and is a fixture in his courtside seats at Maples Pavilion.  Lacob currently serves on the Board of Directors of one public company, Align Technology, as well as several other privately-held companies, including Neuropace, SunDrop Fuels, TransMedics, Imoji, and Athos, a wearable technology startup in athletic wear.

In recent years, Lacob has been involved in industry organizations including the American Heart Association and the AHA Roundtable. He has also been very active at Stanford University, serving on advisory boards at the medical center, business school and athletic department. Lacob’s philanthropic interests focus on education, both in the community and with universities. He has also provided scholarships to a number of high potential academic and athletic high school and college students in need.

An avid golfer, Joe has been a longtime participant in the AT&amp;T National Pro-Am at Pebble Beach.  He has played in a regular pick-up basketball game, and still does, at least twice weekly for over 30 years at Stanford. Most importantly for Warriors fans, Lacob has been a passionate fan of the Bay Area club that he now owns – supporting his local franchise as a loyal and dedicated Season Ticket Holder since 1998.

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Warriors Owner Joe Lacob Donates $1 Million to Washington University in St. Louis

The following press release was issued by the University of Arizona

TUCSON, Ariz. – University of Arizona alums Steve and Margot Kerr have committed $1 million to the University of Arizona to assist with the McKale Memorial Center renovation and future academic facility enhancements. The Kerrs’ gift joins the $6 million lead gift from Cole and Jeannie Davis, a $1 million gift from George Kalil, and a number of additional generous Arizona Athletics donations in support of McKale’s Phase I renovation.

“My experience as a student-athlete at the U of A shaped my life and my entire career,” said Steve Kerr. “I am incredibly thankful for the opportunity I was given to be a part of such a special University. This gift reflects my thanks and also my support for all the future student-athletes who will come to Arizona to compete, study and shape their own lives moving forward.”

McKale’s renovation will positively impact all 20 of UA’s sports programs and specifically men’s and women’s basketball, volleyball and gymnastics, which use McKale as their competition site. Volleyball was the first program to compete in the new-look McKale Center on Friday, Sept. 5 and renovations are expected to be complete by the start of the men’s basketball regular season.

“We are really excited that Steve and Margot have decided to show this kind of support for Arizona Athletics,” said Director of Athletics Greg Byrne. “Steve is one of the icons of our athletics department and he has been such a great ambassador for this program throughout his professional career. We know McKale is a special place to him and his family and we’re thrilled that they could be involved in this renovation. It’s even more exciting that an athletics alum has provided this level of commitment and we believe it will lead to even more former student-athletes getting involved.”

The first aspect of the renovation project was completed at the beginning of 2014 with the installation of a state-of-the-art, high-definition scoreboard. The new version features four 19’ x 11’ video screens totaling 836 square feet, which is more than two-and-half times larger than the previous board, a static ring on top for promotional opportunities and two LED rings.

“Just as Steve Kerr wowed University of Arizona fans with his leadership on the basketball court, his generosity will inspire others,” UA President Ann Weaver Hart added. “This generous gift from Steve and Margot reflects their passion for sport and will benefit aspiring basketball players and other student-athletes, as well as our loyal UA fans who cheer them.”

Phase I of the renovation began in May 2014 and includes upgraded seating, hand rails, enhanced lighting and a new playing floor. In addition, the renovation addresses amenities and upgrades that include men’s and women’s locker rooms, concessions and restrooms.

“I would like to extend a heartfelt thank you to Steve and Margot for their incredible generosity and continued support of our program,” head men’s basketball coach Sean Miller said. “Steve’s basketball career is extraordinary on so many levels. However, his qualities as a person and the qualities of his family are equally exemplary. Today’s gift epitomizes the reasons that we take so much pride in referring to Arizona basketball as ‘A Player’s Program.’”

Upgrades and renovations to McKale and other campus facilities are an integral part of Arizona NOW, the University’s $1.5 billion comprehensive fundraising campaign launched in April 2014. In particular, McKale’s positive impact on UA’s student-athletes, and its ability as a premier Tucson venue to unite the community in support of Wildcat competition, positions it as a campaign priority. With thanks to donors such as the Kerrs, Arizona NOW has already surpassed the $1 billion mark in the first year of its public launch.

“We are incredibly grateful to the Kerrs for their gift to McKale,” said James H. Moore, Jr., president and CEO of the UA Foundation. “Arizona NOW is thriving with thanks to the generosity and loyalty of donors like Steve and Margot.”

As a result of this generous gift, the Kerrs join 42 percent of men’s basketball letterwinners and nearly 30 percent of all alumni letterwinners who have given back to Arizona Athletics at one point in their life.

While at Arizona, Kerr left an indelible mark on Arizona basketball in the mid-to-late 1980s, which culminated with his role in the Wildcats first-ever Final Four in 1988. That group went 35-3 (17-1 Pac-10) in head coach Lute Olson’s fifth season, finishing with a trip to the National Semifinals.

With Kerr on the roster, the UA won two regular-season Pac-10 titles and a conference tournament championship, reaching the NCAA Tournament in each of his last three seasons on the court. Kerr also earned two first-team All-Pac-10 honors and a pair of Pac-10 All-Academic accolades. He remains Arizona’s career leader in three-point field goal percentage with an astounding mark of .573, all of which came during the 1987-88 campaign to set an NCAA single-season record that still stands. Kerr’s jersey is one of just four that has been retired by the Arizona men’s basketball program.

Kerr went on to play for 6 teams over a 15 year NBA career, including stints in Chicago and San Antonio that included a total of five NBA championships. Kerr shot better than 45 percent from three-point range over 910 regular-season games and retired as the NBA all-time leader in three-point field goal percentage for a career (.454). Following his retirement as a player, Kerr served as the general manager of the Phoenix Suns from 2007-10 and also developed into a highly-regarded television commentator on both NBA and college basketball broadcasts for TNT. On May 14, 2014, Kerr was named head coach of the Golden State Warriors.

Arizona Athletics receives no state appropriations or student fees, but does receive 315 tuition waivers annually, authorized by the Arizona Board of Regents. Tuition waivers are also granted to ASU and NAU. The athletics department is responsible for the cost of room, board and books to supplement the tuition waivers and is responsible for generating revenues to cover the department’s annual operating costs and budgetary obligations. Additionally, all funds required for new facilities and renovations are provided through the continued support and generosity of athletics department ticket buyers and donors.

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Warriors Owner Joe Lacob Donates $1 Million to Washington University in St. Louis

Steve Kerr Pledges $1 Million to University of Arizona