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Univ. Of Minnesota Readies For Financial Losses Amid Virus

Potential lost revenue from NCAA Tournament distribution, tickets sales, sponsorships and other revenue streams will have a "substantial impact" on the Univ. of Minnesota athletics department, according to Chip Scoggins of the Minneapolis STAR TRIBUNE. Minnesota AD Mark Coyle "oversees a department with 25 sports, 275 full-time employees, 675 athletes" and a $122M budget. But he said, "There is no doubt in my mind that it’s going to look very different when we come out of this. I don’t know what that’s going to look like. But the financial impact on all of us is going to be felt and how we do things is going to look different.” Scoggins noted each day, Coyle joins a conference call with Big Ten Commissioner Kevin Warren and the league’s ADs to receive updates and discuss "how to proceed on different matters." After that, Coyle "holds an hourlong conference call with his senior staff to keep everyone informed on unfolding events." His "No. 1 priority right now is the safety of athletes, coaches and staff." Coyle has had "initial discussions with his leadership team about ramifications if this pandemic lasts months and spills into fall, thus affecting football." The school's ticket renewals are open for football, volleyball and men’s hockey, and Coyle said that the department has "sold season tickets during the coronavirus outbreak" (Minneapolis STAR TRIBUNE, 3/23).

SMALLER IN TEXAS? In Austin, Brian Davis noted Univ. of Texas athletics is a $220M operation that "relies heavily on fan donations, season tickets and merchandise sales." Davis: "What happens to Texas athletics -- and other major self-sustainable athletic programs -- if those donations slowed or even dried up? No public money is used in the UT athletic department. It is totally self-sufficient." As a state entity, the university and athletics department "cannot go bankrupt." The school also has a "bulletproof AAA credit rating." But it is possible UT and other schools "may have to tighten their belts in the months ahead" (AUSTIN AMERICAN-STATESMAN, 3/22).

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