University estimates millions in lost athletics revenue, up to $75 million

In a worst case estimate, the University’s athletic department could lose as much as $75 million in revenue, over half the department’s annual budget.

The doors of the 3M Arena at Mariucci are plastered with notices announcing changes to access on Saturday, March 21.

Kamaan Richards

The doors of the 3M Arena at Mariucci are plastered with notices announcing changes to access on Saturday, March 21.

Nolan O'Hara

The Board of Regents released estimates Tuesday that the University’s athletic department could lose as much as $75 million in revenue if the coronavirus pandemic were to affect athletics in the fall. 

The Board released three estimates: “best-case,” “moderate” and “severe” scenarios. Each estimate includes revenue losses from ticket sales, television and donations. 

The “best-case” scenario which accounts for measures already in place, including the cancellation of spring sports, estimates a $10 million loss in revenue. In this case games would return as scheduled in the fall.

In the “moderate” scenario, games would still return in the fall but without fans in attendance, an estimated $30 million loss in revenue. The “severe” scenario accounts for the cancellation of all games in the fall, including football. The potential $75 million loss in revenue estimated in the “severe” scenario is over half the athletic department’s annual budget. 

Athletics Director Mark Coyle released a statement Monday extending the deadline to renew season tickets for volleyball and football until June 11. Coyle said in a statement that he is evaluating the budget and will update the Board of Regents at its May meeting.