During a press conference to mark the sale of Texas Wesleyan University’s law school Thursday, President Frederick G. Slabach talked about the negotiations, the school’s strong history and its bright future.
"The transaction we celebrate today is a win-win-win scenario for Texas A&M University, the City of Fort Worth, and Texas Wesleyan University," Slabach said.
This week, the universities completed a 22-month process culminating in the sale of the downtown law school, now known as the Texas A&M University School of Law.
Slabach said the sale allows Texas Wesleyan to focus on the University’s mission of both student success and the renewal of the university-area landscape through the $32 million East Rosedale Street Improvements project.
"In addition to our "Smaller. Smarter." focus on students, we will also be able to continue the truly transformative efforts already underway to revitalize our home in East Fort Worth," Slabach said.
Joining in the celebration were Fort Worth Mayor Betsy Price, attorney Dee Kelly Sr., community supporters and Texas Wesleyan trustees. Texas A&M System Chancellor John Sharp sported a Texas Wesleyan tie.
In a letter sent to faculty and staff at Texas Wesleyan, President Slabach said the university excels in the small classroom setting.
"Students can work closely with professors, ask questions and truly thrive," Slabach said. "I am confident that with this agreement we will be able to better serve those students."
Over a five year period, the $73.2 million agreement provides $54 million for the law school as a going concern and $19.2 million for the lease / purchase option for the building and real estate.
The law school will now be named the Texas A&M University School of Law. When asked about the name change, President Slabach, former CEO of the Harry S. Truman Scholarship Foundation, talked about the collaborative effort and extensive negotiations that made this agreement a good deal for everyone.
"Harry S. Truman is one of my heroes. President Truman was famous for having said, ‘It’s amazing what we can accomplish if we don’t care who gets the credit,’ " Slabach said. "I think that’s what we’re doing here. We’re accomplishing something amazing and we’re making it possible for Fort Worth to have one of the best law schools in the country and it really doesn’t matter who gets the credit for it."