Chancellor Dr. William Sederburg released a statement Thursday indicating the university intends to sustain the men and women’s track and cross country teams upon reaching two fiscal quotas.

Together Roy Love, representative of the “Save UNCW Track” group, and Sederburg finalized an agreement that if reached, continues all running programs into the 2015-2016 athletic seasons. The programs’ stay on campus depends on its ability to raise enough money to support overall funding and renovations to current track and cross country facilities.

To fund next season, Save UNCW Track needs $330,000 so the teams function properly. If the group raises $250,000, UNCW agreed to pay the remaining $80,000 to fund the programs. This quota must be reached by May 31.

UNCW requires a target amount of $1,000,000, with a minimum of $800,000, to complete renovations to the Greene Track & Field Complex. Thus far, the group raised over $140,000 in support of their initiatives. The renovation minimum must be reached by Feb. 1.

“I believe it is critical to have this matter resolved before a new chancellor takes the helm at UNCW, so he or she will be able to focus on the big-picture academic and athletic landscape for our students, faculty and staff,” said Sederburg in a news alert released by OUR.  “In the meantime, I sincerely wish Roy and the “Save UNCW Track” supporters luck as they kick off their effort to meet our agreed-upon financial targets.

UNCW’s University Advancement plans to create a special fund, “The UNCW Track and Field Support Fund”, providing the option to easily donate online. Funds received by the Department of Athletics in support of the program will be used solely for the running programs. If the first quota of $250,000 is reached, how the excess money is used will be decided by Love and Eddie Stuart, Vice Chancellor for University Advancement.

“We take this responsibility seriously, knowing if we do not accomplish the agreed upon goals, UNCW has stated that it will not have the funds to finance the 2015-2016 track field and cross country seasons,” Love said in the news alert.