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In the early seventies, Coach Frank Broyles, Coach Wilson Matthews, Athletic Director George Cole and a small group of statewide business leaders formed the Razorback Scholarship Fund. Their goal was to provide Razorback fans with an innovative way to support the athletic program and receive a benefits package that included tax benefits, ticket priorities and recognition. The plan would develop a fair and equitable ticket assignment system based upon a donor's generosity while rewarding fan loyalty and longevity. Wilson Matthews, the popular, long-time assistant coach under Frank Broyles was instrumental in developing this new system and received the assignment of organizing and operating it from within the confines of the men's athletic department. The financial support derived through the Razorback Scholarship Fund was essential in helping provide the much-needed funds for scholarships, facilities and programs to advance Razorback athletics within the then nationally prominent Southwest Conference.
The official name changed in 1988 when the Razorback Scholarship Fund became known as the Razorback Foundation, Inc. The offices were relocated off campus and Terry Don Philips was chosen to be its new President, a position he held for four years. During Phillips' tenure, the Razorback Foundation, Inc. developed into one of the nation's more prominent athletic fundraising groups and donations increased with the establishment of the Broyles-Matthews Scholarship, a new level of giving that provided even more benefits for the top donor classification.
It was during this time that plans were finalized for the construction of a new facility to house Razorback Basketball, Bud Walton Arena. Several major gifts to the Razorback Foundation, Inc. helped make it possible to build the finest college basketball arena on any campus in the country. This new arena, with a seating capacity of just over 19,000, was made possible with a generous $15 million dollar gift from Bud Walton, who along with his brother, Sam Walton, created the retail giant, Wal-Mart.
In 1991, Terry Don Phillips was named Senior Associate Athletic Director and was replaced as president by another former football player, all-American Chuck Dicus. Dicus brought with him his love of the Razorbacks and many years of business and investment experience. During the early 1990's, athletic director, Frank Broyles, with the assistance of the Razorback Foundation, Inc., developed a comprehensive growth plan to provide state-of-the-art facilities for the Razorbacks' entry into the competitive Southeastern Conference.
Since the completion of Bud Walton Arena, the Razorback Foundation, Inc. has helped provide financial aid for the construction of the Broyles Athletic Center (football and administrative offices), Charlie Baum Stadium at George Cole Field (baseball), John McDonnell Field (outdoor track and field), Willard and Pat Walker Pavilion (indoor practice for football), Randal Tyson Track Center (indoor track and field), Dills Indoor Tennis Center and Donald W. Reynold's Razorback Stadium, the 72,000 seat "Home of the Razorbacks".
Razorback fans can take pride in the accomplishments of the Razorback Foundation, Inc. Without their loyal support, the athletic department could not achieve its goals of providing scholarships for a college education, modern and competitive facilities and support programs to enrich the lives of more than 300 student athletes. The future success of Razorback athletics is in direct proportion to the investments made by the donors to the Razorback Foundation, Inc. We will endeavor to maintain integrity and dependability in a manner consistent with the ideals of our founders. The history of the Razorbacks is rich in pride and tradition. We will embrace this spirit and strive for improvement as we venture into the future.
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