As part of the University of Iowa Athletics Department plan to mitigate the financial effects of the COVID-19 pandemic, Henry B. and Patricia B. Tippie Director of Athletics Chair Gary Barta announced department budget reductions of approximately $15 million for FY21.
The athletics department budget for FY20 was $124.8 million. The 2020-21 budget was anticipated to be $127.5 million prior to the reductions. With the reductions in compensation and operations, the department’s FY21 budget proposal will be $112.5 million. The $15 million reduction includes nearly $13 million in reduced operating expenses, with the remaining in compensation adjustments.
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Specifically, head coaches Lisa Bluder, Tom Brands, Kirk Ferentz and Fran McCaffery, have voluntarily agreed to a one-year, 15 percent base salary reduction or contribution back to the athletics department. Deputy Athletics Director Barbara Burke has agreed to a 25 percent salary reduction, while Barta has reduced his total compensation package by more than 30 percent .
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The current reductions assume complete football and basketball seasons with fans in attendance. Any interruptions or reduction in these seasons would lead to more significant cuts.