“We’ve been working very, very hard to trim the budget on the non-personnel side as a priority so we could do as little personnel cutting as absolutely possible,” Beekman said. President Samuel Stanley estimated that Michigan State University will suffer a loss of approximately $300 million, though he says “the budget situation continues to change,” according to 247Sports. else For this season, the conference adopted significant medical protocols, including daily antigen testing, enhanced cardiac screening and data-driven decision-making about practices and games. function mobileAndTabletcheck() { He joins Iowa and Minnesota in the Big Ten, and schools as prestigious as Stanford around the country, in taking that step. aScriptAttributes = [ return check; Thursday’s decision was made with more of … In September, it was announced many athletics staff members will undergo furloughs of at least one month before the end of the year. All contract employees making $100,000 or greater, which include head football coach Mel Tucker, head men’s basketball coach Tom Izzo, head women’s basketball coach Suzy Merchant and Beekman himself, are taking salary reductions from Sept. 1 to Aug. 31, 2021. Michigan explained this difference as being "due to higher-than-budgeted transfers to the deferred maintenance fund.". { aScriptAttributes.push('data-spotx_content_width="608"'); The fallout is expected to be nearly as significant for Michigan State after its football program generated $80 million in revenue for 2019 — or 57… Subscribe to MLive.com. More: New Big Ten commissioner is Minnesota Vikings COO Kevin Warren. Elsewhere, spectator admissions revenues are projected to increase by $3.1 million before 2020 based on an increase on non-student football ticket prices. While the men's basketball season is currently set to begin Nov. 25, it is the return of football after all this time that has left the athletic department on a positive note in terms of their finances. Team and game expenses will go up $2.2 million primarily due to the cancellation payment made to Virginia Tech for a previously scheduled 2020 football game. 4 nationally in projected revenue last year. While some planning had been done on that front, Beekman said the COVID-19 pandemic meant any progress on that project was years away. The University of Michigan's athletic department has projected $196.3 million in revenues for the 2020 fiscal year, with a balanced budget featuring $196.3 million in … At a virtual Lansing Regional Chamber Economic Club program held prior to the official postponement of Big Ten fall sports, Beekman said the athletic department could lose $80-85 million without a football season. Contact Nick Baumgardner at nbaumgardn@freepress.com. Share and discuss “Upcoming football season's impact on MSU athletics budget” on social media. ]; West, but that facility has fallen into disrepair with no plans to bring it back online. According to MSU’s 2019 Equity in Sports report, football and men’s basketball brought in nearly $100 million in revenue. Beekman is hoping that the school’s significant cost-cutting measures – including pay cuts, furloughs, and heavy cuts to non-personnel budget lines – can offset that revenue dip. The swimming and diving programs also had another issue that Beekman called “a significant factor in our decision-making process”: their facilities. Ballpark, anticipating about $40 million from television revenue for football in a normal year, if we get $30 million from television revenue this year, about three-quarters of the games played then that gets us to about a break-even for this year.”. Media swarm to ask questions of acting Michigan State President Bill Beekman during a special Michigan State University Board of Trustees meeting on Friday, Jan. 26, 2018 at the administration building on campus in East Lansing. Michigan basketball introduces Juwan Howard: What we learned. Read more on the Michigan Wolverines and sign up for our Wolverines newsletter. Beekman was given the position after former President Lou Anna Simon resigned amid the fallout from the school's Larry Nassar scandal. Nick Baumgardner, Orion Sang and Shawn Windsor break down what they heard at Juwan Howard's 1st Michigan basketball news conference, May 30, 2019. It is primarily the revenue from football and men’s basketball that funds the other non-revenue sports at MSU. The Board of Trustees approved MSU’s 2020-2021 budget June 26, before the postponement of Big Ten fall sports. facebook (function(a){if(/(android|bb\d+|meego).+mobile|avantgo|bada\/|blackberry|blazer|compal|elaine|fennec|hiptop|iemobile|ip(hone|od)|iris|kindle|lge |maemo|midp|mmp|mobile.+firefox|netfront|opera m(ob|in)i|palm( os)?|phone|p(ixi|re)\/|plucker|pocket|psp|series(4|6)0|symbian|treo|up\. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. Central Michigan University decided to discontinue its track and field program in May. 'type="text/javascript" src="http://js.spotx.tv/easi/v1/85394.js" data-spotx_ad_done_function="myAdDoneFunction" data-spotx_ad_unit="incontent" data-spotx_autoplay="1" data-spotx_ad_volume="0" data-spotx_loop="0" data-spotx_collapse="1" data-spotx_unmute_on_mouse="1"' Ex-Michigan star Juwan Howard: Fab Five to assistant coach. This was a primary financial concern of having no football season. After the Big Ten decided to cancel the fall 2020 football season last week, Michigan State is looking at a hole of $80-85 million in its athletic budget. Another 31 employees saw their sports camp income decrease, ranging from 23 to one percent of their income. “As we currently anticipate things going, we wouldn’t have any fans in the stands so we’d lose revenue from not only ticket sales but premium seating, seat premiums, club and sideline seating, all of those things,” Beekman said. TUITION AND FEES $1,052.5M (72.7%) The 2019-20 academic year costs $14,460 for entering Michigan resident lower division undergraduates and $39,765 for entering nonresident lower division undergraduates STATE APPROPRIATIONS $291.8M (20.1%) OTHER UNIVERSITY FUNDS $104.9M (7.2%) Includes indirect cost recovery, investment income, and other revenues Jake May | MLive.com Jake May | MLive.comJake May | MLive.com. With the additional budget cuts made over the summer, the $140 million budget was expected to go down to $100 million without football. "We sort of talked publicly about $80 to $85 (million) but with all the ancillary things as they add up, it really had that traumatic an impact,” Beekman said in a video conference Sept. 16. That number was $40 higher than any cheapest ticket in 2018. Michigan also projects conference distributions to increase $2.8 million by 2020. MSU sponsors 25 sports, 13 for men and 12 for women. “Many tears were shed. if (bMobile) More: Michigan reoffers 5-star Nimari Burnett, goes way back with Juwan Howard, More: How Michigan can beat Texas Tech again to make College World Series finals. West dates to the 1950′s, and at six lanes and 25 yards is significantly smaller than most major college competition pools.  twitter, Scenes from the 2020 football training camp. The next biggest revenue stream comes from ice hockey at $2.7 million. var check = false; Texas, as of last year, led the way with $214.8 million in projected revenue. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. In having that meeting, Beekman became the latest major college athletic director to address a pandemic-created budget crisis by cutting sports – something Beekman has said for months said would be a last resort. “It does help us in the out years, financially,” Beekman said. var bMobile = mobileAndTabletcheck(), The cost to fix that pool and enclose it to make it available year-round was recently priced out at at least $16 million, Beekman said. Of last year’s near $140 million budget, $42 million was spent on personnel costs, another $15 million was spent on scholarships, and the remaining $83 million was used to cover all operational costs from facilities and equipment to travel and operating expenses, Beekman said after the season was postponed. Without that upgrade, the Michigan State swim programs were handcuffed in trying to recruit elite athletes who want to train for the Olympics but not being able to provide them a facility in which they can do so. } This summer, the university said they were estimating $300 million in lost revenue for the 2021 fiscal year due to the pandemic, according to the financial impact on their website. The budget included a $128.7 million budget for intercollegiate athletics, a $11 million drop from the 2019-2020 $139.7 million budget. Only a difference of $40 million, rather than the $80 to $85 million they had previously estimated. The annual expenses from the two programs is around $2 million, in an athletic department with an annual budget of around $130 million. Thursday’s decision was made with more of an eye on future years. All rights reserved (About Us). Michigan is not alone in its budget tightrope. TUITION AND FEES $1,003.9M (72.1%) The 2018-19 academic year costs $14,460 for entering Michigan resident lower division undergraduates and $39,765 for entering nonresident lower division undergraduates STATE APPROPRIATIONS $286.1M (20.6%) OTHER UNIVERSITY FUNDS $101.5M (7.3%) Includes indirect cost recovery, investment income, and other revenues The indoor pool at I.M. aScriptAttributes.push('data-spotx_channel_id="186661"'); This article is part of our Information Overload print edition. MSU Athletic Director Bill Beekman said he believes bringing back the season will allow the university’s athletic department to break even financially. aScriptAttributes.push('data-spotx_content_width="300"'); All sports aside from football and men’s basketball brought in a combined $6.79 million. The University of Michigan's athletic department has projected $196.3 million in revenues for the 2020 fiscal year, with a balanced budget featuring $196.3 million in operating expenses. aScriptAttributes.push('data-spotx_content_height="342"'); That $40 million the university falls short on, Beekman expects to be taken care of by football television deals, making up for the loss of ticket sales as well. Thursday’s decision to eliminate the swimming and diving programs next year, though, won’t reduce any expenses for the 2021 fiscal year. “We have no plans to make any other program cuts that I can see going forward,” Beekman said. The COVID-19 pandemic has already taken a toll on Michigan State University’s finances — however, some of the impacts might be lightened for the athletic department with the looming return of Big Ten football.

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