Adkerson Pledges $2 Million Toward Basketball Practice Facility
August 21, 2009 | Men's Basketball
STARKVILLE, Miss. - Mississippi State's fundraising efforts for a new, state-of-the-art basketball practice facility received a major boost this week with the announcement of a $2 million commitment from Richard C. Adkerson.
Adkerson, who was raised in Mississippi and currently resides in Phoenix, Ariz., is a 1969 accounting graduate of Mississippi State and an enthusiastic supporter of both the men's and women's basketball programs. He is the chief executive officer of Freeport-McMoRan Copper & Gold Inc., the world's largest publicly traded copper producer and is also co-chairman of New Orleans-based McMoRan Exploration Co., an NYSE oil and gas exploration and production company.
Adkerson received his MBA from MSU in 1970 and completed Harvard University's Advanced Management Program. His many professional honors include selection as the 2009 Copper Man of the Year by the New York Copper Club this past June and as the most outstanding CEO in the Metals and Mining Industry for each of the past two years by Institutional Investor magazine.
His longtime support of MSU extends to scholarships and several excellence funds. He was honored by the university as Outstanding Accounting Alumnus of the Year in 1989 and in 1991 was named Alumnus of the Year for the College of Business.
"Without commitments such as the donation Richard has pledged, the construction of this type of facility would not be possible," MSU athletics director Greg Byrne said. "We are very thankful to Richard and his family not only for the donation, but also for the loyal support to Mississippi State he has showcased for many, many years, both athletically and academically. To remain competitive in the Southeastern Conference and beyond, it's essential to have a facility of this nature and we are very grateful to Richard Adkerson for making this possible."
Adkerson's name is synonymous with the MSU campus. In 2007, the university announced that the School of Accountancy was renamed the Richard C. Adkerson School of Accountancy. A gift from Adkerson created a major endowment for the academic unit. He also chaired the steering committee for "State of the Future: The Mississippi State Campaign", a seven-year effort which concluded in December 2008 with more than $462 million in private gifts and pledges of future support. He continues to serve as president of the MSU Foundation Board of Directors.
"Mississippi State is a special place for me. Our new practice facility will contribute to our teams achieving future successes by strengthening their reputations nationally and making our programs more attractive to talented student athletes," Adkerson said.
Construction of the planned facility, which will be attached to the south side of Humphrey Coliseum, is expected to begin soon. It will feature two practice courts, a weight room, a training room, coaches' offices and a large reception area.
"Richard has been so supportive to our program through the years and we all are appreciative of this substantial gift that will help make this practice facility possible," MSU coach Rick Stansbury said. "This gift once again shows his love and commitment to Mississippi State University and our athletic programs. Again, I am so thankful for his gift and close friendship," said MSU coach Rick Stansbury.
Lady Bulldogs coach Sharon Fanning agreed.
"Richard Adkerson means so much to Mississippi State University," she said. "It is a tremendous blessing when an alumnus gives back, and he has done that in so many ways. Our basketball practice facility is a big piece of the puzzle for the preparation we need for our basketball teams. The courts, weight training room and office space will meet the needs of our growing university and athletic department family. Richard has a successful vision that is first class. His support of this facility reflects his commitment and expectations."