Ohio State Athletic Department issues COVID budget cuts....
Ohio State Projects $107 Million Deficit for Athletic Department in 2020-21, But Won't Cut Any of Its 36 Sports
Ohio State won't be cutting any of its 36 sports, but it will be forced to cut its budget in other areas as a result of the COVID-19 pandemic. The Ohio State athletic department is projecting a $107 million deficit for the 2020-21 academic year due to losses in revenue – including ticket sales, which accounted for $64 million in revenue last year – and
will be eliminating 25 full-time athletics positions while also implementing furloughs and pay cuts in order to account for those losses.
Per a release from Ohio State on Wednesday, 48 members of the athletic training staff and strength and conditioning staff will have a 5-day intermittent furlough to be completed between Oct. 6 and June 30, 2021; 213 staff members are assigned to a 10-day intermittent furlough to be completed between Oct. 6 and June 30, 2021; 84 staff members will go on a 60-day continuous furlough or redeployment from Oct. 9 through Dec. 31; and 47 contracted staff members will be asked to take a voluntary, 5 percent salary reduction between Oct. 1 and June 30, 2021.
Ohio State expects those layoffs, furloughs and pay cuts to result in $7 million in savings. Gene Smith said during a conference call Wednesday that Ryan Day and Chris Holtmann will be among the contracted employees taking 5 percent pay cuts. (Smith initially said those pay cuts only affect their base salaries, but an Ohio State spokesperson told the Columbus Dispatch that Day's pay cut will also include supplemental compensation, meaning his pay cut will amount to $236,775 in total savings.) Other expense reductions include $9.6 million in savings through a short-term restructure on debt, $6.1 million in cuts from sports’ operating budgets, $4 million on administration/support unit operating budgets, $3.4 million in football game day expenses, $3 million in non-conference game guarantees and $3.0 million in facility operations.
https://www.elevenwarriors.com/ohio-...-its-36-sports
- Smith says the primary objective in the personnel management space was
to try to protect the needs of the athletes. That's the reason, he
says, they kept all four members of the sports psychology team away from
layoffs or furloughs.- The ongoing training and testing is the main reason for those only
taking five-day furloughs getting only a week's worth of furlough.- Smith says it was a challenging day when the decisions were made on Tuesday.
- Smith says Ryan Day and Chris Holtmann are among those who will take
voluntary 5 percent pay cuts. He's "100 percent" comfortable with them
only taking 5 percent reductions in pay.- "Our budget is uncertain." He says the numbers "mean nothing at this
point relative to accuracy." He notes that the media rights money the
athletic department will bring in is not included in the $107 million
deficit.- "We don't have clarity on basketball. We made some assumptions there."
He says he hopes to have some clarity on the schedule in the next few
weeks. "Those numbers are guesstimates. The sponsorship numbers are
guesstimates."- Smith says he hasn't explored taking a loan out from someone outside
of the school because he's comfortable with working with Ohio State's
CFO.- Smith says the football team might bus to East Lansing or fly in and
out in a single day this fall. In certain areas, he says, the football
team has already cut some money. "There's a lot of things that we could
look at and will."
https://www.elevenwarriors.com/ohio-...-all-36-sports
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