Georgia Tech's recruiting budget for athletics has been cut by 50% for next year, one of myriad cuts at GTGetty Images
The Georgia Tech athletic department has had to cut expenses for the fiscal year to $75M to "offset the significant drop in ticket revenues because of COVID-19," according to Ken Sugiura of the ATLANTA JOURNAL-CONSTITUTION. The department spent $91M last year, but now "struggles to stay financially afloat." Tech's "personnel budget" for FY '20 -- which ended at the end of June -- was $32.5M, but "spending ended up" at $34.7M. The initial FY '21 budget proposed spending $29.3M on personnel, a "cut of about 10% from the previous year." But the revised budget has "reduced the allotment even further," to $26.1M, a "20% slice off last year’s budget." Georgia Tech AD Todd Stansbury has "avoided a decision that many of his colleagues have enacted," as "no employees have been laid off." Some cuts are "covered by 16 vacant positions that have not been filled." Stansbury said that the recruiting budget "has been cut by 50%." But Stansbury "did see light ahead." He said that he was in "conversations for three potential corporate partnerships." He also said that the department has been in "discussions to bring concerts and other potentially profitable events back to Bobby Dodd Stadium" when permitted. The ACC Network provided an extra $4M in "distributions from the conference," which totaled $29.7M and "figures to increase" (ATLANTA JOURNAL-CONSTITUTION, 11/21).
CUTS CONTINUE FOR FSU: Florida State AD David Coburn said that he has "had to reduce the FSU athletics budget by approximately" $20M, and that despite these reductions, the department still is "substantially in the red." In Tallahassee, Curt Weiler noted these ongoing budget concerns "will force further reductions." Coburn "admitted those may have to come from individual sports." Weiler wrote as a "cost-saving measure," FSU will "shut down all team operations for teams not in season -- everyone except for football and men's and women's basketball -- after Thanksgiving to save money on COVID testing" (TALLAHASSEE DEMOCRAT, 11/21).
BYU NOT USED TO LOSSES: KSLSPORTS.com's Mitch Harper noted for the last 15 years, BYU athletics has "operated without an annual financial loss," but the coronavirus pandemic has "shown us that no business or entity is immune to the virus’s setbacks." BYU AD Tom Holmoe spoke in a video released late Friday night that "featured an 'All In' campaign for BYU athletics." Holmoe said, "We are projecting a financial shortfall just short of $20 million by the conclusion of the 2021 athletic season." Harper noted in the '19-20 athletic year, ticket sales made up 26% of the "athletic department’s revenue." That has been "wiped out due to COVID-19," as only "two BYU home football games have had paying customers in attendance this season" (KSLSPORTS.com, 11/20).
