Projecting $100 million in lost revenue due to the COVID-19 pandemic, the University of Iowa is cutting four varsity sports after the 2020-21 academic year: men’s gymnastics, men’s tennis and men’s and women’s swimming and diving.
“A loss of this magnitude will take years to overcome,” university president Bruce Harreld and athletic director Gary Barta wrote Friday in an open letter to the Hawkeye athletics community. “We have a plan to recover, but the journey will be challenging.”
Loss of football’s impact felt
With the Big Ten Conference having postponed football and other fall sports, the Iowa athletics department said it anticipates an overall deficit between $60 and $75 million this fiscal year.
After their upcoming 2020-21 seasons, the athletes in the four affected sports have a choice to make. The school will honor all existing scholarships through graduation for those who remain, or the university will assist those who wish to transfer to another institution. Coaches’ contracts will be honored.
“We are confident these changes, while difficult, create a path forward for Iowa Athletics to remain self-sufficient and allow our remaining programs the opportunity for sustained excellence and fiscal stability,” Harreld and Barta wrote.
–Field Level Media (@FieldLevelMedia)