University of Iowa to discontinue 4 sports programs due to lost revenue
IOWA CITY, Iowa (KCRG) - The University of Iowa said it will discontinue four of its intercollegiate athletics sports programs at the end of the 2020-21 academic year due to lost revenue caused by the coronavirus pandemic.
The programs to be discontinued are:
- men’s gymnastics
- men’s swimming and diving
- women’s swimming and diving
- men’s tennis
“The COVID-19 pandemic resulted in a financial exigency which threatens our continued ability to adequately support 24 intercollegiate athletics programs at the desired championship level,” University President Bruce Harreld and Athletic Director Gary Barta wrote in a statement. “With the Big Ten Conference’s postponement of fall competition on August 11, UI Athletics now projects lost revenue of approximately $100M and an overall deficit between $60-75M this fiscal year. A loss of this magnitude will take years to overcome. We have a plan to recover, but the journey will be challenging.
The university said existing scholarships will be honored through graduation for student athletes choosing to remain at Iowa, and contracts will also be honored for affected coaches. The university also expects to work with incoming students affected by this move to ensure their financial needs are met.
Copyright 2020 KCRG. All rights reserved.