April 12, 2010
WEST LAFAYETTE, Ind. - The Fred Klipsch family has made a $1 million commitment to Purdue University's Mackey Arena project.
Purdue alumnus Fred S. Klipsch is chairman and CEO of multi-brand global loudspeaker company Klipsch Group Inc. of Indianapolis.
"Purdue is grateful to Fred and his family for their longstanding support of the university, both on the court and off," Purdue President France A. Córdova said. "All of our student-athletes will benefit from his gift."
The Klipsch donation includes cash, products and deferred gifts. Part of the gift will support an area in Mackey where men's and women's basketball teams can review video. It will be named in honor of the Klipsch family.
"Boilermakers like Fred have made the difference in our ability to expand and upgrade Mackey and our facilities," said Morgan Burke, director of intercollegiate athletics. "Our ambitious $99.5 million project is funded without any tax dollars or student fees."
The athletics department will pay for the project completely with gifts, enhanced concession and premium seating revenue, and income generated from the Big Ten Network and other conference television funds.
The complex also will help student-athletes balance class and court activity, said Matt Painter, Purdue men's basketball coach.
"The greatest challenge for student-athletes is time management," Painter said. "Having athletic, academic and training facilities under one roof will give student-athletes a tool to better juggle their academic and athletic schedules. And it certainly will benefit all of us to have state-of-the-art Klipsch equipment in our facilities."
The new Mackey Arena Complex will increase the size of the concourse level, add new lockerrooms, training and rehabilitation space, and office space. A three-level Student-Athlete Development Center is planned north of Mackey and extends along Northwestern Avenue. It will include:
* A sports medicine facility approximately three and one-half to four times larger than the current area in Mackey.
* A strength and weight training facility approximately four times larger than the existing Intercollegiate Athletic Facility weightroom.
* An oversized basketball practice facility with a full-size court and three breakout shooting areas.
Women's basketball coach Sharon Versyp said her Boilermakers will make excellent use of the training area.
"A great team requires great alumni support, and that's just what we have here at Purdue," Versyp said. "Alumni like Fred are a critical part of the team, both in the stands and through their financial muscle."
In addition to his Klipsch Group involvement, Klipsch serves as vice chairman of Health Care REIT Inc. He works with the Educational Choice Charitable Trust, an organization that provides alternative private school education options to economically disadvantaged families in Indianapolis.
At Purdue, Klipsch has been a frequent benefactor, including earlier support for the College of Technology, the Mackey Arena scoreboard and audio equipment for most areas of Purdue athletics. He has served on Purdue's Indianapolis Campaign Steering Committee, participated in Old Masters program and is a member of the College of Technology Dean's Executive Council.
Klipsch received an honorary doctorate from Purdue in 2007 to add to his bachelor's degree in industrial education earned there in 1964. He was active in Air Force ROTC while at Purdue and subsequently served as an officer in the Air Force Space Systems Division in California. He also earned an MBA at California State College at Long Beach. He returned from California to Indianapolis and worked four years for IBM.
Fred's wife, Judy, serves as vice chairman of Klipsch Group with a primary focus on the development of the Klipsch brand message. She earned bachelor of arts and bachelor of science degrees from Ball State University. She has been active in children's charities and other philanthropic endeavors for more than 25 years. An arts advocate, she has served on the board of directors and board of governors for various organizations that support and promote films and music.
Fred's sons, Michael Klipsch and Stephen Klipsch, also are Purdue alumni. Judy's son, Tommy Meyer, is a graduate of Huntington College, and her daughter, Wendy Perry, is a graduate of Rollins College.