Folgers Family Donates $10 Million Endowment To Athletics Director Before SEC Move

The Texas Longhorns athletics department and athletics director Chris Del Conte received a record-high endowment to "launch new initiatives."

A $10 million endowment to Chris Del Conte has given him a new job title.

Lois and Richard Folger's record donation to the athletics director will allow Del Conte "to launch new initiatives and enhance the excellence of Texas Athletics for years to come," according to a release. Also as a result of the endowment, the official position title for Del Conte becomes the Lois and Richard Folger Athletics Director.

“Lois and Richard’s endowment of the athletics director’s chair is another example of the tremendous generosity, dedication and excellence personified by our most involved Longhorns,” Del Conte said in a statement. “Lois and Richard have provided vital funding that will make an immediate impact on our department, and most importantly, our student-athletes."

The endowment comes ahead of Texas' move to the Southeastern Conference which will give Del Conte and the athletics department a more seamless transition into that new animal.

The Folgers are no strangers to big donations, getting endowed named positions for the Lois and Richard Folger Leadership Chairs in the Petroleum and Geosystems Engineering department and the Dean’s Leadership Chair of the McCombs School of Business.

“We are extremely grateful for the Folgers’ longstanding generosity to the University," University of Texas President Jay Hartzell said in a statement. "And excited to see how Chris Del Conte will utilize these resources strategically to improve the support of our student-athletes, generate more passion for our University across the student body, position our former student-athletes for post-UT success, and provide a laboratory for our students and faculty with interests in sports."

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You can follow Casey Smith on Twitter @casey_smith2419

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