The University of Iowa Athletics Department will be slashing the budget for fiscal year 2021 by millions in order to stem the financial impact of the COVID-19 pandemic.
Yesterday Iowa Athletic Director Gary Barta said that the budget would be cut by around $15 million, setting it for around $112.5 million. The difference is made up of around $13 million in reduced operating expenses, with the rest being adjustments to pay.
Head coaches Kirk Ferentz, Fran McCaffery, Tom Brands, and Lisa Bluder all voluntarily agreed to a 15% reduction in base salary for the budget year or an equivalent contribution to the department. Barta reduced his total compensation by over 30 percent, and deputy athletics director Barbara Burke took a 25% salary reduction.