Louisville to cut athletics budget by 15 percent, furlough staff
Louisville athletic director Vince Tyra said his department will cut 15% from its sports budgets and furlough staff this week in further economic moves resulting from the coronavirus pandemic.
Tyra said furloughs would be announced Wednesday, but he did not specify details to the University of Louisville Athletic Association (ULAA) board in a Monday video teleconference. Earlier this month, the AD announced 10% pay cuts for head coaches and senior staff, including himself, and included his forgoing $300,000 in bonuses.
The department aims to trim $15 million from the 2020-21 budget to be submitted this week, and it hinted at other cost-cutting moves, including furloughs.
“We regret that we have to make some of these very difficult decisions,’' Tyra told the ULAA board. “But for us, to be honest to the situation and where we are as an athletic department, we’re not sitting with a large reserve, as some may be.’'
Tyra warned that the economic outlook would change if the current shutdown of sports worldwide extends into college football season.
He reiterated his view of the sport not being played without spectators in the stands and added that starting up without a vaccine “makes it more difficult.’'