Intercollegiate athletics has a rich history that dates back to the mid-1800s when colleges sought to break free from the insulation of competition within a singular institution. Intercollegiate athletics affected academic achievement and access to higher education and had a tremendous financial impact on colleges and universities throughout the United States. The purpose of this qualitative case study was to examine the perceived value of intercollegiate athletics and the relationship between how they influenced the strategic mission, values, and goals of the academy. Specific research questions were designed to study the perceptions of both students and university employees regarding the role of intercollegiate athletics and its contributions to financial viability. The researcher solicited participation through an email campaign, and additional participants were added using the snowball method until saturation was achieved. Overall, 23 participants were interviewed regarding their perceptions of the role athletics played on campus and how the participants viewed the influence of athletics on contributing to the institution's financial viability. The data analysis exposed five major themes regarding the perception of athletics on campus. Students and employees perceived athletics as a tool to increase enrollment through access, leading to diversity. Additionally, perceptions existed that the presence of athletics led to character development, which was a cornerstone of the college's mission. Additionally, the research revealed perceptions surrounding the athletic culture and school spirit could be improved. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]