The University of Iowa Athletics Department announced that several head coaches will be taking salary reductions as the department is expected to see a $15 million reduction in its budget for the 2021 fiscal year. The school released a statement on Tuesday.
While there are several measures being taken to cut costs, the most significant is the pay cuts that will be coming for head coaches. In the statement, the University of Iowa announced that several coaches will see a 15 percent reduction in base salary for the upcoming fiscal year.
“None of this is easy for our coaches and staff,” Athletic Director Gary Barta said. “I appreciate their continued understanding in these uncertain times. The pandemic has dealt us a financial situation that requires difficult decisions. It is our responsibility to maintain a fiscally responsible operation while providing the highest level of serve to our student-athletes.”
Those coaches include:
- Kirk Ferentz, Football
- Fran McCaffery, Men’s Basketball
- Lisa Bluder, Women’s Basketball
- Tom Brands, Wrestling
In the statement, Iowa stated that all four coaches are taking voluntary reductions in compensation.
Deputy Athletics Director Barbara Burke will take a 25 percent reduction in pay and Barta will see a 30 percent slash in his salary.
“I care deeply about our staff and recognize a reduction in salary will have a significant impact on many families throughout the department,” Barta said. “I want to thank our entire staff for their support and understanding as we have worked through this process. We are trying to balance making necessary financial cuts with spreading the sacrifice thoughtfully.”
The statement also mentioned that the current cuts come with the assumption that football and basketball season will be played in full, with fans in attendance. Any addition interruptions to that schedule could lead to more significant changes and cuts.