Oxford receives £74 million gift from university press

Oxford University Press is transferring £74 million of its post-tax surplus to Oxford University, writes Claire Sanders.

Healthy profits mean that OUP has increased the value of its guaranteed annual transfer by a third. The amount that goes to the Clarendon Fund for graduate scholarships has increased by 50 per cent to £3 million. A further £1 million will support the undergraduate bursary scheme.

Some £62 million of the transfer is a one-off capital payment. About £60 million of this will fund the development of the Radcliffe Infirmary site, and £2 million will go to the Bodleian Library for an endowment fund.