The University of Arizona is currently going through a financial crisis, and as a result, the university might have to cut down on its sports-related programs.
The university’s president, Robert Robbins, has also revealed the possibility of potential layoffs and other measures that will be cost-cutting due to a $240 million financial deficit. Robbins disclosed the news in a monthly faculty senate meeting.
The Arizona Wildcats are facing a $240M school-wide shortage after significant miscalculations in their financial modeling.
Cuts are being considered among the school's 23 varsity teams.
“Everything’s on the table in terms of dealing with athletics."https://t.co/FxFzBJd4OE pic.twitter.com/or6yyTHmIp
— Front Office Sports (@FOS) November 14, 2023
According to Front Office Sports, “The Arizona Wildcats are facing a $240M school-wide shortage after significant miscalculations in their financial modelling. Cuts are being considered among the school’s 23 varsity teams. “Everything’s on the table in terms of dealing with athletics.””
Arizona president Robert Robbins shared with Tucson.com and expressed, “Everything’s on the table in terms of dealing with athletics,”
“This is an issue that is going to require a lot of tough decisions.”
He further said, “Clearly this is a major problem. I obviously take it very seriously,”
The University currently has 23 varsity teams and with this number to support; the school is planning to cut its budget. The reason for such drastic measures is the school miscalculated in their financial remodelling.
As per Front Office Sports, the annual budget with which the Arizona athletic department operates is $100 million. The school’s earlier membership in Pac-12 provides $40 million, and $30 million comes from the sales of the ticket. The rest of the sum comes from further philanthropic dealings and contracts.
During the Covid pandemic, the school gave a loan of $55 million to the athletic department.
