The financial pressures weighing on the NCAA amid the coronavirus pandemic have led the association to cut senior management pay by 20 percent and vice presidents will see 10 percent pay cuts, according to a USA Today report.
The news came in a Tuesday memo signed by NCAA president Mark Emmert, who was among the individuals affected by the 20 percent cut.
“As you know, last week the NCAA Board of Governors announced a significant reduction in the amount of money distributed to member schools and conferences,” the memo reads. “Many of you are facing significant financial challenges and difficult choices. Likewise, the national office is looking at every function to garner savings that could be used to support student-athletes in this uncertain economic time.
“To that end, as a first step I have decided to reduce my salary and that of our nine other highest compensated leaders by 20 percent and the rest of my President’s Cabinet by 10 percent. This temporary reduction will free up needed resources and highlights our commitment to weather the current economic challenges we face while continuing to provide opportunities to college athletes.”
Last week, the NCAA Board of Governors voted to distribute $225 million to Division I schools beginning in June. That figure is well short of the $600 million the association had budgeted for the year, but with outbreak-fueled disruptions such as the cancelation of the NCAA men’s basketball tournament, the association has found itself without a major source of revenue.