A few weeks ago, Stanford cut nine Olympic sports from its 36-team varsity program, saying the pandemic forced it to make hard budget cuts.
Last week, the University of Iowa announced it was cutting men’s gymnastics, men’s tennis and men’s and women’s swimming, saying the athletic department this year would lose about $100 million in revenue and would be operating at a loss of $60 to $75 million. In a note of irony, the $69 million Campus Recreation and Wellness Center, which opened in 2010, and which the school put some $5 million into just last summer for repairs, is due to stage the 2021 men’s NCAA championships.
Iowa is the first Power Five school to cut its swim and dive program amid the crisis. Five other Division I schools, according to the website SwimSwam, have already announced cuts: Boise State (women’s), UConn (men), Dartmouth (both), East Carolina (both), Western Illinois (both).
Nebraska on Friday announced that 51 athletic department staffers will be furloughed from Sept. 1 through the end of the year. Athletic director Bill Moos said earlier, “We are now looking at a deficit in athletics alone … of north of $100 million. If we can get the television revenue or parts of it, with a non-traditional (spring) season, that will help. But each home football game is worth $12 million, and that didn’t count television and our media partners and all those things … Now we have a solid feel for the dilemma we’re facing … that is a daunting exercise.”
This is just the beginning.