UW previously cautioned that a revenue shortfall of $100M was possible if there was no footballGETTY IMAGES
The Univ. of Wisconsin athletics department is "facing a revenue drop" of between $60-70M in a '20-21 fiscal year impacted by the ongoing COVID-19 pandemic, according to Todd Milewski of the WISCONSIN STATE JOURNAL. The department had "previously cautioned that a revenue shortfall" of $100M or more "was possible this year without a football season." UW is "preparing to go forward without large amounts of revenue from ticket sales and the donations associated with season packages as well as concessions, sponsorship and licensing." UW Associate AD & CFO Adam Barnes said that the athletic department "will tap into unrestricted reserve funds but doesn't have enough there to cover the full shortfall." Barnes also said that the department is "working with campus officials to evaluate borrowing opportunities." UW Assistant Vice Chancellor of Communications John Lucas said that the school is "in a unique space among their league counterparts," as UW is the "only Big Ten school unable to use loan funding through private markets." Meanwhile, Barnes said that the Big Ten is "negotiating with TV partners on revenue for shortened seasons," which "will impact budget figures." Milewski notes UW originally planned for $42.463M from "media revenue shared by the Big Ten" (WISCONSIN STATE JOURNAL, 9/24).
ON HOLD FOR NOW: In Milwaukee, Jeff Potrykus reports UW "plans to renovate Camp Randall Stadium’s south end zone to offer fans more premium seating options and build an addition to the Kohl Center to improve the academic center." But UW Senior Associate AD/Capital Projects Jason King said, "We have chosen to defer that project for at least a year until we get a clearer picture of what next season looks like. The Kohl Center project ... we'll be making a determination later on this fall on how we proceed with that" (MILWAUKEE JOURNAL SENTINEL, 9/24).
