Report: Ohio State anticipating over $130 million dip in revenues due to pandemic
Ohio State’s athletic department is anticipating a dip of over $130 million in revenue due to the COVID-19 pandemic and the cancellation of fall sports, according to a report.
Cleveland.com is one of numerous outlets reporting that Ohio State’s athletic department is expecting to see a $130.3 million decline in revenue compared to the 2019-20 fiscal year. Those losses come due to the cancelled fall athletics season, which includes college football.
The biggest components are ticket sales, media, conference and game guaranteed revenue.
Several schools in the B1G are projected nine-figure losses in revenue this year due to the cancelled fall football season, as well as other fall sports. The conference is hoping to make some of that up by putting together a model to play a spring season, potentially beginning in January or February.
There have been no details released at this time.
Per Cleveland.com, there were no mentions of potential cost-cutting measures for the Ohio State Athletic Department at this time. The information was gathered from the Board of Trustees’ Audit, Compliance and Finance committee meeting’s agenda, which took place last Thursday.