A move that many have sadly projected was coming given the loss of Big Ten revenue this season happened yesterday.
Wisconsin Athletic Director Barry Alvarez has been very public about the financial difficulties created by the COVID-19 pandemic for the department at UW. In a letter to fans written just a few weeks ago and posted on uwbadgers.com, he stated that Wisconsin was in line to lost over $100 million dollars in revenue without a college football season.
In the letter, Alvarez also noted the steps that the Badgers had already taken to minimize costs during this uncertain time:
“To this point, we have taken many steps over the past few months to minimize the impact of a cancelled winter postseason and spring season. We have instituted pay decreases for our top 25 earners and workshare furloughs for all employees, put a freeze on almost all hiring, restricted travel, limited to essential-only spending and announced the delay of the South End Zone renovation project. These steps have allowed us to avoid the tough decisions other schools have already had to make, like eliminating sports or laying off employees.”
Another step to minimize costs came as devastating news to many division one athletes in Iowa City yesterday. The Iowa Hawkeyes announced they would be discontinuing men’s gymnastics, men’s swimming and diving, women’s swimming and diving, and men’s tennis due to money lost during the coronavirus pandemic.
“The COVID-19 pandemic resulted in a financial exigency which threatens our continued ability to adequately support 24 intercollegiate athletics programs at the desired championship level,” University President Bruce Harreld and Athletic Director Gary Barta wrote, in a statement that was published yesterday. “With the Big Ten Conference’s postponement of fall competition on August 11, UI Athletics now projects lost revenue of approximately $100M and an overall deficit between $60-75M this fiscal year. A loss of this magnitude will take years to overcome. We have a plan to recover, but the journey will be challenging.”
This is yet another disastrous side effect of the coronavirus pandemic that has impacted nearly every facet of life for colleges and universities.