Amidst the coronavirus pandemic and its impact on college athletic departments, Oklahoma has announced budget cuts for the first time.
The Sooners generated $175 million in revenue in the athletic department in fiscal year 2017-18. They have touted being one of the few self-sufficient athletic departments in the country, and Oklahoma netted near $23 million in FY18.
COVID-19 doesn’t care about your past success though, and the Sooners have responded to the potential impact it will have on the upcoming year.
“The department has implemented budget cuts of approximately $13.7 million in controllable operating expenses, including a 10% salary reduction for any employee earning a salary of $1 million or more per year,” wrote Oklahoma athletics in a release. “With these budget modifications, the department also is accounting for COVID-19 expenses, which entail testing protocols and increased safety measures. In spite of these changes, the department is holding intact and safeguarding all financial aid and services provided to student-athletes, including accommodations for extended eligibility.”
Four Oklahoma coaches, including football coaches Lincoln Riley and Alex Grinch, and athletic director Joe Castiglione are among the members who will be taking a pay reduction.
I can't find an official number, but reports from multiple outlets in 2018 have Oklahoma athletic director Joe Castiglione also making north of $1 million: #Sooners
— Kegan Reneau (@KeganReneau) July 2, 2020
Castiglione acknowledged that they are unknowns coming up due to COVID-19 and that everyone in the athletic department understands.
Despite the budget cuts, he is hopeful for the future.
“It’s a testament to our staff and our practices that we were able to balance our budget for fiscal year 2020,” Castiglione said in a release. “We have always benefited from excellent teamwork in our department, but our staff has come together as never before. I am very proud of our people.
“Our goal is to have all activities operate as safely and efficiently as possible,” he commented. “That said, we are planning on a number of contingencies and protocols that will leave us prepared for any number of scenarios.”
Oklahoma is still scheduled to begin the 2020 football season on Sept. 5 against Missouri State at home.
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