Hunter
07/01/20
Top earners of the University of Iowa Athletic Department have agreed to large pay cuts, part of an approximately $15 million budget reduction for the 2021 fiscal year.
In a release from the Department, the budget was anticipated to rise from $124.8 million to $127.5 million before the coronavirus pandemic hit. The new budget is $112.5 million, which will be achieved by reduced operating expenses totaling nearly $13 million, and the rest in reduced compensation.
Head coaches Kirk Ferentz, Fran McCaffery, Lisa Bluder and Tom Brands have stepped up to the plate and voluntarily agreed to a 15 percent base salary reduction. Deputy Athletics Director Barbara Burke has agreed to a 25 percent cut, and AD Gary Barta has reduced his total compensation package by more than 30 percent.
Other staff members will see their compensation cut on a graduated scale, from 10% for those making $200,000 or more, to 2% for those making about $50,000 or less.
The release says the current budget is based on the assumption that fans will be able to attend University of Iowa football and basketball games; any interruptions or reductions of those seasons would lead to “more significant” cuts.
Athletic Director Barta is quoted in the release saying “These are challenging times with significant uncertainty. We are grateful for the loyal and generous support of our fans and appreciate knowing they are with us as we face this adversity.”