OU projects $25M drop in athletic revenue
The OU Board of Regents is projecting at least a $25 million decline in revenue for the athletic department for the fiscal year 2021.
The forecast, as part of the 2021 budget the board approved Thursday, does not account for private gifts received or contracts made by t he athletic department.
The coronavirus pandemic has shut down the collegiate sports world, with the last competitions having taken place in March. Big 12 commissioner Bob Bowls by said in March that the conference lost about $6 million for canceling its basketball tournament in Kansas City.
OU is projecting a year-to-date net revenue decrease of roughly $25 million in fiscal year 2021. The year-to-date net revenue from July to March 2020 was $ 82.8 million, and is projected for 2021 is $57.8 million.
One source of uncertainty in revenue is the amount of fans allowed to be in attendance for football games in the fall. Ticket revenue is a significant source of money for the athletic department, but OU administration hasn't been able to make a decision on the topic yet.
OU athletic director Joe Castiglione has been optimistic that fans can attend, but isn't ready to make a concrete decision yet.
“The decisions haven't been made,” Castiglione said June 10 on a Zoom call with reporters. “All we can do is focus on the preparation. When I say we're optimistic and hopeful that we would have a stadium near or full capacity, that's not me predicting that' s going to happen. When
I say we might be at 50% capacity, that's not me predicting that's going to happen. When it could be at any smaller capacity, there's no prediction in anything I'm saying."
Extra points
The only new coaching contract approved by the board was for women's basketball assistant Courtney Paris, which is valued at $110,000. At the board's June 2019 meeting, it approved contracts for assistants Jackie Stiles and Coquese Washington, who is now at Notre Dame. Their contracts were valued at $130,000 and $225,000, respectively.
Paris joins the Sooners' staff after over a decade of playing professional basketball. She was a star at Oklahoma from 2005 to 2009, averaging 19.9 points per game, 14.8 rebounds and 3.3 blocks.
The board's June meeting is often when coaches across all sports receive salary raises, but this year's June meeting was the first since 2010 to not include any raises for coaches.
Last year ,18 total coaches received pay raises or extensions, including women' s gymnastics coach K. J. Kindler, baseball coach Skip Johnson and men's golf coach Ryan Hybl.