Univ. Of Kansas Athletics Exploring $20M Emergency Line of Credit

Univ. of Kansas Chancellor Douglas Girod proposed that KU Athletics seek a $20M "line of credit 'to provide emergency liquidity in the event the COVID pandemic modifies the upcoming football and/or basketball seasons,'" according to Jesse Newell of the K.C. STAR. Girod yesterday said that the hope of the short-term line of credit "would be for KU Athletics to keep up operations while avoiding a need to seek financial assistance from KU." The proposal, which BOD members "have until Aug. 21 to vote upon," would authorize KU AD Jeff Long and CFO Pat Kaufman to "execute term sheets" for a $20M operational line of credit. Girod said that the $20M line of credit "would mature on Dec. 31, 2021" (K.C. STAR, 8/20).