High-ranking athletic department officials continue to take pay cuts as a cost-saving method during the COVID-19 pandemic — and corresponding shutdown of NCAA sports.
University of Louisville athletic director Vince Tyra announced new measures Thursday in an effort to combat reduced revenue from the canceled NCAA men’s basketball tournament and spring seasons, as well as future expenditures from the NCAA allowing all spring athletes an extra year of eligibility. According to WDRB, the Louisville athletic department is anticipating a $2.1 million revenue shortfall due to the coronavirus.
High-ranking athletic department officials continue to take pay cuts as a cost-saving method during the COVID-19 pandemic — and corresponding shutdown of NCAA sports.
University of Louisville athletic director Vince Tyra announced new measures Thursday in an effort to combat reduced revenue from the canceled NCAA men’s basketball tournament and spring seasons, as well as future expenditures from the NCAA allowing all spring athletes an extra year of eligibility. According to WDRB, the Louisville athletic department is anticipating a $2.1 million revenue shortfall due to the coronavirus.
“We are going to have the senior staff and head coaches forgo 10 percent of their compensation during the next fiscal year,” Tyra said of the pay cuts, which will affect the head coaches in all 21 of Louisville’s sports as well as a dozen senior athletic administrators. “We’re committed to trying to do everything that would help the cause here. I just don’t want to put the university in anymore of a flux than it needs to be at this point.”
Other athletic directors taking 10-percent pay cuts are Wyoming’s Tom Burman and Oregon’s Rob Mullens.
The Big 12 Conference also confirmed pay cuts Thursday, according to ESPN. Big 12 commissioner Bob Bowlsby said he and the rest of the staff in the conference office are taking a 10-percent pay cut through the end of the year.
“We’ve eliminated all year-end bonuses and are formulating a reduced scope of operation plan that saves quite a bit of money, but we’re a relatively small operation,” Bowlsby said, noting that it’s up to schools to implement any coach pay cuts. “Most of our resources are passed through to our members.”
Jon Wilner reported that Pac-12 Conference commissioner Larry Scott is taking a 20-percent pay cut through at least June, while Pac-12 executive staff members are taking a 10-percent cut.
An Iowa State athletic department press release announced several cost-saving measures, including a one-year pay reduction for all coaches and certain staff. Those cuts will reduce total payroll by more than $3 million. Another $1 million will be saved by suspending all coaches’ bonuses and incentives for one year.
Related content: Minnesota Regents: Athletics Losses Could Hit $75M
Related content: Wyoming Coach Bohl Gives Athletic Department $100K
Related content: Old Dominion Cuts Wrestling Program to Save Money
