Webster University in St Louis has won 7 straight national championships in chess, but the financially struggling university abruptly dropped the program.
The school said they were spending over a million dollars per year on the chess program, while also struggling with visa issues. The coach says they weren’t spending a million on the program and that only 2 international students are even on the team and visas were never an issue.
Either way, Webster has been in serious financial trouble for a while and has shrunk by around half, closed numerous branch campuses, and been in general upheaval for a decade. It’s no surprise that they are continuing to cut any expense they can.
If the chess program cost anywhere near $1 million a year, that would be a shocking number to most general sports fans. That is, unless they looked at the reckless spending Webster has had for many, many years.
The private university has been in the red since 2017 and has lost a cumulative $140 million in that period, peaking at a $40 million loss in 2023 alone, on revenue of $120 million that year.
The whole situation wouldn’t have even been worth a mention if not for the dollar amount mentioned.
https://www.insidehighered.com/news/quic...nd-funding