Glass: Coronavirus Will Have a 'Significant Negative Financial Impact' on IU Athletics

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Indiana Athletics Release

Bloomington, Indiana – Today, the NCAA announced its revenue distribution plans for Indiana University and other member institutions following the cancellation of the 2020 NCAA Men’s Basketball Tournament. As anticipated, Indiana University’s distribution will be substantially less than it had budgeted to receive.

“As is the case with so many other organizations in our community, across the country and around the world, the Coronavirus pandemic is having and will continue to have a significant negative financial impact on our department and all of intercollegiate athletics,” said IU Vice President and Director of Intercollegiate Athletic Fred Glass. “In addition to pursuing our number one priority of helping to protect the health and safety of our students, coaches, staff and fans, we have also been working to mitigate the financial impact of the anticipated reductions in the distributions we traditionally receive from the NCAA and the Big Ten.”

IU Athletics is working closely with the Office of the Vice President and Chief Financial Officer to mitigate the best it can this new financial reality. In addition to the University-wide hiring, promotion and bonus freeze, Indiana University Athletics is pursuing a variety of cost-containment measures, including deferring any non-essential building and maintenance projects and purchases.

The NCAA will distribute $225 million to NCAA Division I members in June. Previously, this total was budgeted at $600 million.