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UConn Athletics Ran $43.5M Budget Deficit For FY '20

The increase in UConn’s deficit appears to stem largely from the cancellation of basketball tournamentsGETTY IMAGES

UConn’s athletic department ran a $43.5M "budget deficit" for FY '20, up slightly from '19 and "again larger than most" D-I schools, according to Philippou & Putterman of the HARTFORD COURANT. The year-over-year increase in UConn’s deficit appears to "stem largely from the cancellation" of the men’s AAC tournament and both men’s and women’s NCAA Tournaments last spring, as well as an "increase in salaries for football and men’s basketball coaches." Last year’s payment toward UConn’s $17M AAC exit fee is "not reflected in the financial statement." The financial statement also does not include $26.4M in "donations and pledges the athletic department secured" during FY '20. UConn’s reported deficit "grew despite a significant increase in men’s and women’s basketball ticket sales." The deficit, which is "offset each year by student fees and a university subsidy," is one of the "largest in college sports." The athletic department has "pledged to become more self-sufficient, and cut four varsity sports this past summer in an effort to reduce costs." The athletic department has said that it would "institute additional cuts." These include a 15% "reduction in operating expenses, reduced scholarships" and a 15% "pay reduction" for AD David Benedict (HARTFORD COURANT, 1/21).

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