Purdue Univ.'s athletic department, due to the upcoming financial shortfall following the Big Ten's postponement of football, is "taking 'a wide range of adjustments and actions' that will affect every full-time employee," including the "elimination of positions, furloughs, reductions in work schedules, foregoing of incentive compensation, and reductions in pay from 5% to 40%," according to Mike Carmin of the Lafayette JOURNAL & COURIER. The adjustments "begin Sept. 1, 2020 and last through Aug. 31, 2021." Without a full Big Ten football season, Purdue is "projected to lose" around $50M in media rights income, ticket sales and other revenue generated during a 12-game season (Lafayette JOURNAL & COURIER, 8/20).
PENN STATE FURLOUGHS LIKELY: Penn State AD Sandy Barbour yesterday during a Zoom call with department employees said that PSU Athletics is "preparing for furloughs across the department." Barbour: "Furloughs, at a minimum, I believe are in our immediate future. I just don't see how we get through this, how we get our gap or our loan number down to manageable size, a size that doesn't cripple our department and programs, for years to come." Barbour earlier this week indicated that Penn State Athletics' "current reserve budget is 'north of $25 million' and has publicly stated in the past that her department, which hosts 31 different programs, is looking at upwards of a $100 million in revenue shortfall if football were not to be played this fall or upcoming spring" (STATECOLLEGE.com, 8/19).
