As schools around the country are making necessary adjustments to the budgets and pay structures for coaches and other officials due to the financial impact of COVID-19, Wisconsin athletics director Barry Alvarez says Wisconsin is in relatively good shape.
In a meeting with the Wisconsin athletic board, Alvarez reportedly said the university is bracing to take a net revenue drop of $4 to $5 million in the current fiscal year. All things considered, and compared to a number of other universities and programs around the country, that doesn’t sound all that bad. Of course, that only accounts for the athletics department and not the university as a whole, which is likely much more significant.
Regardless, Alvarez credits years of fiscal responsibility at Wisconsin allowing the Badgers to weather the impact the coronavirus outbreak has ha don the financial standing of the University of Wisconsin.
“Thanks to sound management of our finances over the years, we’re well-positioned to withstand a temporary decline in revenues,” Alvarez said, according to Wisconsin State Journal.
That’s always encouraging to see. Perhaps a bit surprising given the headlines involving what’s happening with pay for coaches lately, Wisconsin is following through on paying any bonuses coaches have been eligible for. The board has voted to provide the authority to handle contract extensions and bonuses for winter and spring sports seasons. That group doesn’t impact the football program and head coach Paul Chryst, but it is a somewhat interesting development given Wisconsin recently decided not to grant extra years of eligibility to spring and winter sports athletes…
Barry Alvarez won’t offer Wisconsin seniors scholarship money but he is giving his coaches bonus money: https://t.co/cidsOgjAop
— Bryan Fischer (@BryanDFischer) April 24, 2020
It’s also worth noting, according to the Wisconsin State Journal report, that Alvarez believes other Big Ten members are doing the same with regard to bonus incentives.