Bubba Cunningham, director of athletics at UNC, said the department could lose up to $52 million because of COVID-19. | Twitter
Bubba Cunningham, director of athletics at UNC, said the department could lose up to $52 million because of COVID-19. | Twitter
As a result of the COVID-19 pandemic, the University of North Carolina Athletics Department projected it would lose $30-$52 million in revenue.
"The COVID-19 pandemic has forced our student-athletes, coaches and staff, and Carolina Community to adjust in many ways," Bubba Cunningham, director of athletics, said in a statement on Sept. 3. "Classes have gone remote, championships have been pushed to the spring, and we will begin our football and Olympic Fall sports seasons without fans in the stands. All of this continues to have a negative financial impact on our 28-sport program."
The revenue the department anticipates losing would have typically come from ticket sales, sponsorship and television revenue, among others.
To help make up for the revenue loss, the department will make cuts to the budget, including reducing salaries by 20%, ABC 11 reported.
"Everyone making over 200,000 in UNC Athletics must take a 20% pay cut," Mark Armstrong, with ABC 11, said on Twitter, ABC 11 reported. "Ten percent for those making 100,000 to 200,000 and a 15-day furlough for those under 100,000. Through June 30 of 2021. They're anticipating a departmental loss of $30 to $52 million."
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