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Rutgers Athletics endured largest financial deficit in school history during 2020-21 year
Published:
A report from NJ Advance Media indicates that Rutgers Athletics endured the greatest financial hardship in school history funding sports programs during the 2020-21 academic year. The impact of COVID-19 took its toll on the Scarlet Knights.
Per the report, Rutgers spent $118.4 million to fund its athletic programs during the pandemic-hit 2020-21 year. The result was a $73.3 million deficit for the year, the largest for the athletic department in school history.
Funding for COVID-19 testing and safety protocols — as well as the loss of fan attendance during the year — were the primary causes for the significant financial losses. Those changes hit Rutgers for a $26 million decrease from the previously projected budget.
From NJ Advance Media:
Rutgers’ athletics ledger shows a $73.3 million deficit that was made up by $27.6 million in support from the university’s operating budget, $10.5 million in student fees, a $21.5 million from an internal loan, an $8 million loan from the Big Ten and $4.7 million in direct state or government support. It marks the largest deficit rung up by Rutgers athletics in school history, surpassing a $47 million shortfall in 2013 — the year before the Scarlet Knights joined the Big Ten.
NJ Advance Media also provided a breakdown of the finances from Rutgers. You can read more on the losses during the 2020-21 athletic and academic year here.
Dustin grew up in the heart of Big Ten country and has been in sports media since 2010. He has been covering Big Ten football since 2014. You can follow him on Twitter: @SchutteCFB