By Jack Henning · PRESS RELEASE: Bloomington, IN – October 15, 2024—Dike Drummond, Team Captain of the Indiana Rugby Club from 1976 to 1980, announced today a groundbr…
PRESS RELEASE:
Bloomington, IN – October 15, 2024—Dike Drummond, Team Captain of the Indiana Rugby Club from 1976 to 1980, announced today a groundbreaking commitment from Indiana University alumnus Mark Cuban. Cuban has pledged $6 million over the next three years to strengthen the long-term success of Indiana Rugby and provide additional financial support in perpetuity.
In a combined effort with IU Rugby leadership, Cuban will donate $2 million annually to the club's endowment over the next three years, bringing the total to $8 million. Additionally, Cuban has committed to filling a $220,000 annual funding gap for three years to secure the club operates at a $590,000 "dream budget," letting IU Rugby achieve and maintain its position as a top-10 program nationally.
“This is about legacy, Mark Cuban’s investment ensures that IU Rugby will thrive for generations. His support affirms the hard work and success of our current players, coaches, and alumni", said Drummond.
Indiana Rugby’s dream budget will provide resources including full-time salaries and benefits for coaches, travel funds for away games and tournaments, and equipment which equates to $590,000 a year.
Cuban’s generous donations are complemented by the club’s alumni and players, who have committed to raising $200,000 annually to support the program. “I asked Mark: What it would take to make IU Rugby a top-10 team?” Drummond said. “When presented with the numbers, he didn’t hesitate to step forward as a champion for our club’s future.”
When the Indiana University Foundation decided to stop managing funds for club sports due to concerns about potential liabilities from player injuries, Indiana Rugby established a dedicated committee to transfer its endowment to Merrill Lynch in Indianapolis. This transition preserves the tax-deductible status of donations while offering improved financial reporting and adequate investment opportunities.
As Indiana Rugby continues its trajectory, efforts are underway to secure dedicated facilities for the team. Alumni committees and the executive board made up of the players, are exploring on and off-campus options to achieve this goal.
The club invites all alumni and supporters to join this historic moment by contributing to IU Rugby's future. For more information, please visit www.friendsofhoosierrugby.org.
The IURFC Schubie Cup goes to the most outstanding alumni each year. Mark's continued selfless dedication to the success and legacy of the IURFC earned him the coveted recognition for 2024. We're delighted to know that he keeps the IURFC Schubie Cup in great company next to his NBA trophy, Emmy, and Critics choice award!