In these uncertain times amidst the COVID-19 pandemic, money for college athletics is at an all-time low. With conference tournaments canceled, the NCAA basketball tournament canceled, college sports is facing a financial collapse.
Iowa State Athletic Director Jamie Pollard wrote a letter to all of Cyclone nation Wednesday announcing that the Iowa State Athletic Department will be implementing several new initiatives to remain as stable as possible financially during the continued spread of the virus.
The first of several changes is a one-year, temporary pay reduction for all athletics department coaches and some staff. The reduced pay is expected to reduce Iowa State Athletic’s total payroll by more than $3 million.
Another new initiative is one-year, temporary suspension of all bonuses and incentives for all coaches in the athletic department. The suspension of these bonuses is
With multiple fall sports still in limbo of being played at all, Pollard announced that there will be a temporary freeze on season and individual game ticket prices for all sports. The decision comes after the NCAA announced a lengthened recruiting dead-period through May 31.
Other changes include an extension for the deadline for the 2020 Cyclone Club donations and football season ticket renewals back to May 29. Pollard also announced that the athletic department will work on providing multiple payment options for season tickets and donations.
Payments can be made monthly, quarterly or semi-annually.
With the athletic department being one of few on campus that is funded entirely from outside sources, Pollard said that these changes were necessary steps to ensure the future of the department during this process.
Source: Iowa State Daily