I was at LSU when they had it done. They could have had a contest with students and gotten way better for next to nothing.
Interestingly, there wasn't a contest, but a friend of mine from HS designed the Tiger Eye. She was studying Graphic Design and worked in the Athletic Dept. It was the early 80's, Rocky was a big movie franchise, & the guy who did the score for the movies was an LSU alum, Bill Conti. They asked her to come up with a design and she used the song from the movie as inspiration. Next thing you know, it was on the 50 yard line. She never got a penny for it and still doesn't to this day.