Admission revenue for Michigan events is expected to decrease by $29.2M this yearGETTY IMAGES
Univ. of Michigan AD Warde Manuel is projecting a $26.1M deficit in the athletic department budget in FY '20-21, because "sports were suspended in mid-March and a large list of unknowns remain heading into the fall," according to Angelique Chengelis of the DETROIT NEWS. The department projects operating expenses of $161.9M and revenues of $135.8M in the upcoming budget. Spectator admissions revenues are projected to decrease $29.2M, while preferred-seat contributions are projected to decrease $17M because of "anticipated lower attendance and the potential fans will request refunds." Manuel in his slide presentation to school regents indicated that there would be a projected decrease of $6M in "salaries, wages and benefits." Team and game expenses are "projected to decrease" $6.5M. Manuel explained that because sports were stopped in March, the decrease in NCAA revenues is "distributed across the country." He added that UM has “'stopped and paused and moved' timelines for payment of preferred seat contributions for football, understanding the difficult current economic state for most fans." Manuel did say that with the suspension of athletics in March, the department had a "significant decrease in expenses" of nearly $8M (DETROIT NEWS, 6/26).
