Nebraska Athletic Director Bill Moos announced Friday the implementation of department-wide measures for the upcoming 2021 fiscal year, beginning on July 1, intended to alleviate the financial impact of the COVID-19 virus on the athletic department.
The plan is to reduce overall expenses by approximately 10% for the next year, including workforce reduction inside the department of administrative positions by 10%.
“In our deliberate planning for how to best address a decline in expected revenue, we attempted to institute measures that would minimize the impact on the student-athlete experience,” Moos said in a release. “While many of these necessary changes are difficult, especially those impacting our employees, we hope that they will be the only ones necessary in the months ahead. I am confident that we will weather the storm and come out stronger on the other side.
“I want to acknowledge the work and commitment of those employees who will no longer be with us and thank them for their service to Nebraska. We wish them all of the best in their future endeavors.”
Nebraska outlined several cost-saving measures to be taken:
- No merit increases for all department employees.
- No increases in any sports programs’ budgets for the upcoming year.
- Sports programs will be encouraged to “build a more regional non-conference away schedule,” intended to limit cross-state exposure and reduce travel costs.
- All administrative units across the Department have been asked to reduce budgets by 10%.
- All staff travel, with the exception of recruiting-based travel, will be “greatly restricted” over the next year.
- A reduction in recurring capital expenditures.
- Summer programming for student-athletes will be limited in the summer of 2021.
The Huskers announced on Thursday that both football head coach Scott Frost and men’s basketball head coach Fred Hoiberg would be donating a portion of their salaries for the upcoming fiscal year back to the athletic department’s general operating fund. The amount will be determined as the athletic department’s budget is finalized.
Nebraska has also already delayed breaking ground on its $155 million facility project, originally expected to be completed in 2022. The university system is planning to cut $43 million from the overall budget over the next three years, President Ted Carter announced at Friday’s State of the University address, per the Lincoln Journal-Star.
For Fiscal 2019, Nebraska reported $136.2 million in operating revenue and $124.1 million in expenses.
As some universities across the country are shuttering various athletic programs to help mitigate losses, to date, Nebraska has announced any intentions to cut individual teams offered by the athletic department.
Derek is a newbie on the Hail Varsity staff covering Husker athletics. In college, he was best known as ‘that guy from Twitter.’ He has covered a Sugar Bowl, a tennis national championship and almost everything in between (except an NCAA men’s basketball tournament game… *tears*). In his spare time, he can be found arguing with literally anyone about sports.