Arizona having a hard time financially pre-Big 12 move
Nov 10, 2023, 05:33 PM ET
The University of Arizona’s athletic department is struggling financially ahead of its move from the Pac-12 to the Huge 12.
University President Robert C. Robbins acknowledged throughout a Nov. 2 conference with the board of regents that sports was not producing the earnings that was expected following the COVID-19 pandemic.
“There are a couple of units across the university that are having a hard time, not the least of which is athletics,” Robbins stated. “We had assumed when we utilized days cash on hand to support sports, that there would be a boost in revenue, and it’s just not ended up being the case.Editor’s Picks 2 Associated”Regrettably, I think with
the scenario we find ourselves in with the Pac-12, that situation may not improve before it worsens. “Arizona is one of 4 schools– together with
Arizona State, Utah and Colorado– that are leaving the Pac-12 for the Huge 12 next year. It belongs to a bigger disintegration of the Pac-12, which is likewise losing UCLA, USC, Washington and Oregon to the Huge 10 and Stanford and Cal to the ACC.Arizona’s athletic department was offered a $55 million loan throughout the height of the pandemic
that hasn’t been paid back”quick enough,”according to the Arizona Daily Star.The department’s battles are part of a larger spending plan shortfall for the whole university.Arizona has 20 athletic teams and a budget plan that exceeds$100 million. Robbins has suggested that cutting sports is an alternative.”Whatever is on the table in regards to handling sports,”Robbins said, according to the Daily Star. “This is a concern that’s going to need a lot of tough decisions.”An Arizona representative stated athletic director Dave Heeke could not comment Friday due to the fact that of schedule conflicts. The university released a declaration about the broad monetary circumstance, which
consists of sports.”The University of Arizona’s strategic investments have caused some of the very best incoming classes and record-breaking research study,”the declaration checked out.” As the tactical strategy investments pertain to a
close, the University will deal with existing budget plan difficulties by lowering expenses and finding extra income streams.”The university will resolve its existing budget challenges and emerge more powerful and better prepared for future development.”