Oaklawn Racing Casino Resort in Hot Springs announced Tuesday that it’s donating $500,000 to the nonprofit Razorback Foundation, the fundraising arm for the athletic department at the University of Arkansas in Fayetteville.
Oaklawn President Louis Cella said the gift is one state sports institution helping another. Cella, who graduated from the university’s law school, called on other state businesses to do the same.
“They are competing in the toughest conference in the nation, and regularly going up against schools with far greater resources,” Cella said in a statement. “If the Razorbacks are going to remain competitive, it’s going to take backing from all of us.”
The Razorbacks also have Arkansas Edge, a name, image and likeness collective, that it runs in partnership with Blueprint Sports of Las Vegas. NIL collectives, a growing trend in college athletics, let supporters donate to the collective, which then pools the money to distribute to the university’s athletes.
UA Athletic Director Hunter Yurachek said in May he hoped Arkansas Edge could raise $12 million for Razorbacks athletes. Even with that amount, Yurachek said the UA would be in the middle or bottom tier of the competitive SEC.
“We know what it is like to feel outgunned,” Cella said. “So I’m pleased to now be in a position where we can help. I realize this doesn’t solve the financial crunch for U of A athletics. But if more Arkansas businesses will consider pitching in too, it will be a huge step in the right direction for Razorback nation.”
Sam Pittman, the UA’s head football coach, said, “The University sincerely appreciates what Louis and other business leaders are doing, and Louis is correct. This is what it is going to take for us to compete in the SEC and nationally.”
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