BleedGopher
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per Chip:
Gophers athletic director Mark Coyle can’t talk about the effect of COVID-19 on his department’s financial health in concrete terms because he can’t see the finish line. He just knows things will be painful.
Best-case scenario is a $14 million projected loss in revenue in 2020-21. The “moderate” scenario calculates a loss of $30 million if sports return in the fall without fans, or if there is a shortened season.
Rhonda McFarland, chief financial officer of Gophers athletics, didn’t sugarcoat that scenario Friday when addressing the Board of Regents.
“There are only a handful of athletic departments that could manage a $30 million loss,” McFarland said.
Minnesota isn’t one of them.
They, like just about every other FBS school, desperately need a fall football season with fans in the stands. The “or else” part is a path ADs would rather not explore.
Asked Friday if his senior staff has had much discussion on whether the department can continue to support 25 sports considering revenue losses, Coyle didn’t say yes or no. He emphasized the success of his broad-based program but left the door open to any possibility.
“There’s no doubt that everything is on the table,” Coyle said.
www.startribune.com
Go Gophers!!
Gophers athletic director Mark Coyle can’t talk about the effect of COVID-19 on his department’s financial health in concrete terms because he can’t see the finish line. He just knows things will be painful.
Best-case scenario is a $14 million projected loss in revenue in 2020-21. The “moderate” scenario calculates a loss of $30 million if sports return in the fall without fans, or if there is a shortened season.
Rhonda McFarland, chief financial officer of Gophers athletics, didn’t sugarcoat that scenario Friday when addressing the Board of Regents.
“There are only a handful of athletic departments that could manage a $30 million loss,” McFarland said.
Minnesota isn’t one of them.
They, like just about every other FBS school, desperately need a fall football season with fans in the stands. The “or else” part is a path ADs would rather not explore.
Asked Friday if his senior staff has had much discussion on whether the department can continue to support 25 sports considering revenue losses, Coyle didn’t say yes or no. He emphasized the success of his broad-based program but left the door open to any possibility.
“There’s no doubt that everything is on the table,” Coyle said.
Don't want Gophers to cut sports? Then buckle up for big changes
Mounting revenue loss will force athletic departments to make decisions they fear most. Do they maintain the same number of sports but reduce spending ? Or do they make the tough choice of elimination?
www.startribune.com
Go Gophers!!