Cutting sports, staff layoffs could be result of huge revenue loss at Michigan State
Michigan State’s athletic department, like all across the conference, will see a huge loss in revenue this year with no college football in the fall. That could result in sports being cut and staff members laid off, according to athletic director Bill Beekman.
The athletic department at MSU could see as high as an $85 million loss in revenue. While meeting the media on Thursday, Beekman says the university has to keep all options on the table at this point.
When asked if that meant cutting sports and staff layoffs, Beekman said it’s a possibility.
“I think we have to be in never-say-never mode,” Beekman said, per the Detroit Free Press. “I think there’s nothing that we’re going to immediately take off the table. Everything has to be an option as we explore how to close this gap as best we possibly can.”
That’s the harsh reality for athletic departments during the COVID-19 pandemic. Schools were taking enough of a financial hit due to the cancellation of the NCAA men’s basketball tournament last March, as well as conference tournaments.
Now, with football out for fall, athletic departments are attempting to find ways to save every nickel and dime they come across. Playing football in the spring could help cover some of the losses, but there will still be a significant dip in revenue for the 2020-21 academic year.