On Wednesday morning, the Ohio State athletic department reported it is working to mitigate a possible $107 million budget shortfall for fiscal year 2021 with much of that due to revenue losses stemming from the Coronavirus pandemic. OSU’s inability to welcome fans for the 2020 football season could account for as much as $60 million of that deficit. According to a release from the school, cuts will be made through a hiring freeze, a short-term restructure of debt, cuts in sports’ operating budgets and reductions in expenditures on game day operations and facility operations. In addition, nearly every employee in the department will be touched by furloughs, salary cuts or reductions in force. Football coach Ryan Day and men’s basketball coach Chris Holtmann are among the department employees who will take 5 percent base salary cuts, according to athletic director Gene Smith. Speaking on a media call on Wednesday, Smith…
Continue Reading: Ohio State AD Smith outlines how department will handle deficit
