In the NIL era, every program is looking for new revenue streams to fund its ever-growing budgets, a major chunk of which is spent on football. In the 2024-25 FY, Texas received 167.8 million in donations, and it earmarked a third for Steve Sarkisian’s team. Last week, Tennessee also received a historic donation, but it is unlikely to help Josh Heupel.

In a press statement released last week, the University of Tennessee announced a $130 million donation from Jimmy Haslam and his wife, Dee Haslam, who own the Cleveland Browns (NFL) and the Milwaukee Bucks (NBA). However, the money will not be used for the Vols’ athletic programs.

The largest portion of the investment, $100 million, will go to the Haslam College of Business. The remaining amount will be spent on faculty recruitment and retention, as well as bringing more researchers to the University. The donation will surely help elevate the academic profile. But the same can’t be said of the athletics side of things.

The current landscape of college athletics is, unfortunately, all about money. The likes of Texas and LSU have spent over $40 million on their roster for the 2026 season. And this is just in the SEC. Ohio State, Oregon, and Texas Tech can also throw a punch if any recruitment comes down to money.

For the 2027 class, Josh Heupel is after some elite five-star prospects. The Vols are locked in a tight race with Ohio State to land five-star RB David Gabriel Georges. Similarly, they are also targeting five-star IOL Maxwell Hiller, who is currently committed to Florida. Just recently, they had a setback when 5-star WR Easton Royal canceled his scheduled visit to Knoxville.

Not everything comes down to money. Selling the program is more about making the recruit feel at home. That’s what Heupel tried to pull off with Gabriel Georges a few days ago. A part of recruitment is about relationships. However, money can become a deciding factor. Heupel knows it better than anyone else.

In 2025, the Vols lost their starting QB, Nico Iamaleava, following a highly publicized NIL standoff. While Iamaleava’s representatives requested a contract increase to $4 million, Tennessee didn’t agree, and that led the QB to ultimately transfer to UCLA.

And it’s not that the Vols don’t have funds. Collectives like the Vol Club continue to support the program. In the 2026 class, Heupel landed 5-star QB George MacIntyre and OT David Sanders Jr., both of whom command north of $600k each. Then, Tennessee secured elite DE Chaz Coleman from the portal, who will be worth $2 million.

Yet if you wonder why the Haslams didn’t prioritize football, it was because the couple viewed their alma mater through an educational lens.

The root connection of this historic financial gift

Jimmy and Dee Haslam both graduated from the University of Tennessee in 1976 and 1986, respectively. Both Knoxville natives believe in giving back to their alma mater and community, and that led them to donate. In 2014, the couple gave $50 million to Tennessee’s business school, and as a result, the university named it the Haslam College of Business.

“The University of Tennessee has always held a meaningful place in our lives, and we are truly honored to give back to an institution that has given us so much,” the couple said, as per the university’s June 4 press release.

The recent investment brings the Haslams’ lifetime contributions to Tennessee to a total of $195 million.