By Anya Pelshaw on SwimSwam
Ned and Carol Spieker have committed $26 million to endow Cal’s mens swimming and diving program as well as the men’s water polo program. The commitment marks the largest donation to athletics in school history.
“I saw the endowment which I had contributed to before was not enough to sustain the program,” Ned Spieker said in the announcement. “I felt that if the program wasn’t going to be sustained, it could be in jeopardy from a qualitative aspect. We were in good shape facility-wise, but we needed to meet the endowment challenge to keep the coaching and athlete benefits intact.”
The pool at Cal is already named after the Spieker family as it is Spieker Aquatics Complex. It is home to both men’s and women’s swimming and diving programs as well as the men’s and women’s water polo programs. Ned played water polo during his time with the Golden Bears and graduated in 1966.
With the addition of men’s swimming and diving and men’s water polo, Cal now has a total of five endowed programs. Men’s golf, women’s golf, and rugby already were endowed programs. The athletic department sponsors a total of 28 programs.
Cal Athletics saw a financial deficit of $29.74 million during the 2023-2024 fiscal year, the final season the school was in the Pac-12. The school has since moved to the ACC for the 2024-2025 fiscal year that ended yesterday June 30, 2025. Its deficit of $29.74 was over three times an increase from FY 2023-2024 when the department was in a $8.78 million deficit.
Cal men’s swimming and diving has been at the top of the NCAA for the last decade, either winning the NCAA title or finishing as runner-up in the last 15 NCAA Championships. The team also secured NCAA titles in 2022 and 2023. The men finished 2nd at the 2025 NCAA Championships with 471 points, just 19 points behind Texas.
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