Saint Augustine’s University (SAU), a Raleigh-NC based HBCU, has unveiled a groundbreaking partnership with 50 Plus 1 Sports, aiming to foster innovation and strengthen its ties with the Raleigh community. This collaboration comes as SAU faces financial challenges that have sparked widespread concern about its future.
The deal, formalized through a Letter of Intent signed on November 17, 2024, promises an infusion of $70 million in investments and future revenues to support the university’s growth. The announcement is a significant step in addressing financial difficulties that have plagued SAU in recent years, including declining enrollment and financial instability, as highlighted in reports by HBCU Gameday.
“This agreement marks a pivotal moment for SAU as we embrace a bold vision for future growth,” said Brian Boulware, Chairman of the SAU Board of Trustees. “We are excited to collaborate with 50 Plus 1 Sports, a proactive and dynamic partner, to deliver long-lasting benefits to our students, faculty, and the amazing Raleigh community.”
The partnership signals a commitment to transforming SAU’s fortunes and securing its place as a vital HBCU in Raleigh. The financial challenges SAU has faced mirror a broader trend among HBCUs, many of which struggle with limited resources despite their critical role in higher education for underrepresented communities.
Monti Valrie, President & CEO of 50 Plus 1 Sports, emphasized the local impact of the partnership. “This collaboration underscores our commitment to creating projects that resonate with the community, enhance local opportunities, and establish meaningful relationships within the business ecosystem.”
Details on the scope of development and associated costs will be revealed at a December press conference. For SAU, this partnership represents a lifeline, reaffirming its legacy as a cornerstone institution in Raleigh and the HBCU landscape.