Ex-Dutch Bros CEO, OSU alum gives $3M to Beavers' basketball programs

Ex-Dutch Bros CEO, OSU alum gives $3M to Beavers’ basketball programs

Posted by Admin October 2, 2024 Basketball

Ex-Dutch Bros CEO, OSU alum gives M to Beavers’ basketball programs

Amid an uncertain time for the Oregon State University athletic department, a well-known Pacific Northwest business leader has provided financial backing for the school.

On Tuesday, OSU announced alumnus Joth Ricci and his wife, Robin, have made a $3 million gift to support the university’s men’s and women’s basketball programs. The gift establishes two $1.5 million endowed funds with the OSU Foundation that “will generate expendable resources for the two programs in perpetuity,” according to a press release.

“This is a tremendous investment in the present and future of Beaver basketball,” OSU athletic director Scott Barnes said. “The steady, reliable funding provided by athletic endowments ensure long-term stability and growth, empowering our student-athletes to excel on and off the field, now and for generations to come.”

Ricci, a 1990 OSU graduate, now serves as executive in residence for the school’s College of Business. He took over as executive chairman of Burgerville earlier this year after working as CEO of Dutch Bros from 2019-2023. He has also operated in leadership roles with Stumptown Coffee Roasters, Adelsheim Vineyards and Jones Soda.

“I don’t think there’s ever been a better time to invest in OSU athletics,” Ricci said. “Anytime you are in an uncertain situation, you have a choice to make; you can wait and see what happens to you, or you can get engaged and build your narrative. As intercollegiate athletics continue to change, at Oregon State we have the chance to build and make our program even stronger.”

Both the Oregon State men’s and women’s basketball programs will play a West Coast Conference schedule during the 2024-25 season following the collapse of the Pac-12. Both programs will rejoin the newly rebuilt version of the Conference for the 2026-27 season.

The Beavers’ women’s basketball program is coming off a 27-8 finish last year that culminated in a trip to the Elite Eight. But the majority of the program’s key contributors from last year’s squad opted to enter the transfer portal during the offseason as uncertainty arose about OSU’s conference future.

“Nationally, Oregon State is established as one of the nation’s elite women’s basketball programs, and investments like the Riccis’ will allow us to continue to develop student-athletes and compete on a national level,” OSU women’s coach Scott Rueck said. “The Ricci family endowments will support our program for decades to come, and I encourage Beaver Nation to build on our momentum with their own philanthropic support.”

The Oregon State men went 13-19 in 2023-24 and are also in the process of replacing several of last year’s top contributors.

“Joth is passionate about OSU athletics and especially our basketball programs,” Oregon State men’s coach Wayne Tinkle said. “The Ricci family’s gifts will help our teams compete on the court. But beyond that, they will enhance the student-athlete experience, and help our student-athletes be competitive and succeed in the workforce and in their lives after college. We are grateful to Joth and Robin – their investment will help strengthen our program, all while generating the excitement that inspires and supports our university community.”

Jarrid Denney covers high school sports and Oregon State for the Statesman Journal. He can be reached at JDenney@salem.gannett.com or on X @jarrid_denney