The postponement of fall sports through the Big Ten has already created a monetary loss for the Ohio State Department of Sports.
According to Joey Kaufmann of Columbus Dispatch, the school has projections for its board of administrators and expects to run out of $130.3 million in revenue.
The official reasoning for the expected decline in profits is “loss of price ticket sales, press rights and other conference-related profit distributions as a result of an fall season,” according to Kaufmann. Sports department budget details have been included in a number of documents, while Ohio’s operational budget for fiscal 2021 will be approved on Thursday.
Buckeyes’ sporting director Gene Smith declined to comment on Kaufmann’s meeting on Thursday.
According to the Columbus Dispatch, school football revenues represent more than a portion of the sports department’s annual budget, with price ticket sales and media rights being the two largest money generators.
While the Big Ten is already exploring features for a spring football season, it would do little for the existing fiscal year, which ends on December 31.
No major points on how to cover the deficit were included in the report ready through the state of Ohio, and cost-cutting measures were presented.
Smith’s comments on Thursday provide more context on how the university plans to move forward in the existing monetary climate.