NCAA President Mark Emmert will be taking a pay cut, the association announced in a release on Tuesday.
With the NCAA losing hundreds of millions of dollars due to the cancellation of the men’s and women’s basketball tournaments, as well as the cancellation of spring sports, the association finds itself attempting to cut some costs. For now, one solution the association is taking is to cut the pay of Emmert and the senior management staff.
Salaries will be cut by 20 percent for Emmert and senior management, while vice presidents will take a 10 percent pay cut.
“The COVID-19 pandemic has impacted college sports and the world in very profound ways — medically, emotionally and economically,” Emmert said in a memo. “As you know, last week the NCAA Board of Governors announced a significant reduction in the amount of money distributed to member schools and conferences. Many of you are facing significant financial challenges and difficult choices. Likewise, the national office is looking at every function to garner savings that could be used to support student-athletes in this uncertain economic time.
“To that end, as a first step I have decided to reduce my salary and that our nine other highest-compensated leaders by 20% and the rest of my President’s Cabinet by 10%. This temporary reduction will free up needed resources and highlights our commitment to weather the current economic challenges we face while continuing to provide opportunities to college athletes.”
Per 247Sports, Emmert made just over $2.1 million, based on federal tax records from 2017.
Recently, the NCAA announced that it cut its revenue distribution to conferences from $600 million to $225 million, primarily due to the cancellation of March Madness.