By GLENN GUILBEAU, Tiger Rag Editor
LSU president Wade Rousse has bestowed new meaning upon the term “Top 40.”
This is not about high selling music records.
Rousse, a financial expert who worked at the Federal Reserve in Chicago and left the McNeese State presidency for LSU last November, is leading LSU into the ultra expensive new world of college athletics with the newly rising cost of elite athletes in addition to the titanic salaries of coaches – and their buyouts coming and going.
On Thursday, Rousse was mentioned prominently by Matt Borman, the president of LSU’s Tiger Athletic Foundation fund raising arm, in an invitation to the top 40 LSU athletic donors, particularly football, to be with Louisiana Governor Jeff Landry at the Governor’s Mansion on either August 3 or 5 for presentations beginning at 6 p.m. about the financial future of LSU’s athletic department. The letter was first obtained by the LouisianaSports.net website.
— Matt Moscona (@MattMoscona) July 9, 2026
Rousse and Landry will present an “an alternative revenue-generating opportunity for LSU athletics that is first of its kind nationally and could quite possibly change the future of college sports in America,” the invitation boldly stated.
My goodness, this sounds like something out of the meeting of the five families involving the New York mafia in “The Godfather” film, which was based on a real meeting. But that one didn’t have 40 well-heeled attendees.
“Let me be clear,” Borman states in the invitation. “This is not an ask for money. It’s not a fundraiser. It’s informational. This is a conversation about the future of LSU Athletics. And remember what unites us all. It’s three letters, two colors, one state. We are all for LSU. Hope to see you soon.”
As of late, projected major debt is also uniting LSU and its deepest-pocketed donors as of last October. Football coach Brian Kelly was fired without cause six years before his 10-year contract was up at a buyout cost to LSU and – as Landry has said – partly to the state of $54 million.
It’s over. Lane Kiffin is LSU’s next football coach. Press conference introducing him set for Monday at LSU.https://t.co/kTRsVE78Of
— Glenn Guilbeau (@SportBeatTweet) November 30, 2025
Then Ole Miss coach Lane Kiffin was hired at $91 million over seven years to replace Kelly with LSU also agreeing to pay part of his buyout from Ole Miss at $3 million. In between, LSU athletic director Scott Woodward, who hired Kelly at $100 million over 10 years, was fired and will be receiving a $6 million buyout. Deputy athletic director Verge Ausberry replaced Woodward and last April received a new five-year contract that will pay him $1.5 million in 2026 and ’27, $1.6 million in 2028 and ’29 and $1.7 million in 2030.
Men’s basketball coach Matt McMahon was fired last April and will be receiving an $8 million buyout. One-year North Carolina State coach Will Wade, who used to work under Rousse as basketball coach at McNeese State, was hired to come back to LSU as coach after his firing for voluminous NCAA violations in 2022. Wade’s new contract is for $30 million over seven years, and LSU agreed to pay the buyout Wade owed North Carolina State at approximately $4 million.
In all, that is $75 million in buyout money for outgoing and incoming coaches. LSU paid only $43.3 million in buyouts from 2015-25, according to a recent report by the Louisiana Illuminator.
#LSU has paid more than $43 million to buy out the contracts of its coaches and athletics department leaders over the past decade and soon might be on the hook for more than $53 million more. My latest w/ @TigerRagMedia https://t.co/HikFtm5uYh
— Piper Hutchinson (@ByPiperHutch) November 18, 2025
The athletic deparment also pays its athletes a yearly total of more than $20 million in revenue share.
“College athletics is at a financial crossroads,” Borman said in his invitation’s opening to the top 40, pleading. “And we’re feeling it every day at LSU. As someone who has contributed generously to our athletic programs to keep them operational, you know how unsustainable the budget of the athletic department looks and how hard TAF has worked with our donors to assist.”
The invitation came just three days after an “Invitation To Greatness” on Aug. 13 at Tiger Stadium was sent to LSU fans from the same TAF and the LSU Board of Supervisors that read:
You’re invited to Champions Circle: An Invitation to Greatness, the inaugural gathering hosted by the LSU Board of Supervisors and the Tiger Athletic Foundation, bringing together a distinguished community of supporters united by a shared commitment to excellence, transformational impact, and the future of LSU. The event will feature LSU Head Coaches & Special Athletic Guests. There will be 2 levels of ticket options to purchase – VIP and General Admission. VIP: $5,500 per person. General Admission: $3,500 per person.
General Admission offers guests an invitation to an extraordinary evening celebrating the spirit and future of LSU. Attendees will enjoy access to the event, an exclusive opportunity to hear from LSU’s featured head coaches during an engaging panel discussion, thoughtfully curated culinary offerings, premium cocktails and beverages, and an elevated atmosphere designed to foster connection, excitement, and Tiger pride.
VIP Admission includes all General Admission benefits, elevated with exclusive early access to the evening’s festivities and a private pre-event reception. Guests will enjoy a unique opportunity to meet and engage with LSU’s featured head coaches in an intimate setting prior to the main program, creating meaningful moments and unparalleled access. VIP attendees will also receive a specially curated commemorative gift, thoughtfully designed to mark an unforgettable evening celebrating the excellence and future of LSU.
Proceeds from the event will support initiatives that enhance the experience of LSU students and student-athletes, as well as advance the strategic initiatives and priorities of the LSU Board of Supervisors and the Tiger Athletic Foundation Deadlin to RSVP is Monday, August 3. Questions go to [email protected]. Thank you for your continued support of LSU, and Geaux Tigers.
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