UVa's athletic department finances

I don’t have a copy of it, but remember months ago when Carla Williams sent everyone a letter, and didn’t it say that the athletic department was going to be $7-$9 million in debt this year, even if the football and men’s basketball seasons went smoothly the way they normally do? I think it’s safe to say that there are a LOT of universities in this exact same situation right now.

The men’s NCAA basketball tournament is the one that pays the bills for athletic departments. I’d say that right now, at best the odds are 50/50 that there will be a tournament this year. Unless all players are vaccinated, I don’t see how they could play it. They can’t stop it for 7-14 days each time a player on a team in the tournament tests positive.

If the athletic department is in debt like she said it was, what does that mean? :slightly_smiling_face: In debt to who? The salaries for coaches?

I assume that they might ask donors for the money, but this year, that would be very hard for any school to raise. The athletic department notes that it operates on its own financially.

Does the school bail them out, using the school’s endowment? Does the school loan them the money and charge them interest? :football: :basketball: :volleyball: :soccer: :softball: :field_hockey: :cricket_bat_and_ball: :eye: :eye: :pray: :popcorn:Does the school drop every men’s sport other than football and basketball, and drop women’s sports enough to have the ratio of male athletes on scholarship/female athletes on scholarship be equal, to still be meeting the mandate of Title IX? Okay, that’s enough. :raised_hand_with_fingers_splayed: :basketball: :football: :popcorn: :tumbler_glass: :beer: :wine_glass: :beers: I think that Carla is a great athletic director, and I have faith that she’ll work it all out!

Carla reported to the BOV in Sept that the deficit would be $30M-$35M this school year. You can see her report by googling it on YouTube.

Athletics has its own dedicated endowment. Some of those funds are encumbered and can not be used to borrow against.

Unsure how Carla will address the deficit at this point. The Athletics Dept had a decent amount of funds in reserves, but Carla depleted those funds. Carla’s report at next BOV should be revealing.