Saint Augustine’s University enters partnership with sports and mixed-use developer 50 Plus 1 Sports [Video]

RALEIGH, N.C. (WTVD) — Financially strapped Saint Augustine’s University announced a new partnership Tuesday as the beleaguered HBCU continues to address its monetary challenges.

The latest development is a strategic partnership with 50 Plus 1 Sports, based in Coral Gables, Florida.

“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, and its team of global investment partners, to deliver long-lasting benefits to our students, faculty, and the amazing Raleigh community. Together, we’re building a future that solidifies SAU’s role as a cornerstone of this city.”

Saint Augustine’s said it expects the collaboration, which was sealed through a Letter of Intent signed on Nov. 17, to generate $70 million, along with additional future revenues. If that comes to fruition, it would mean a significant cash infusion for …