UCLA claims that the coronavirus pandemic crippled its athletics program to such a degree that it joined the Big Ten Conference to prevent financial ruin.
The UCLA athletic department reportedly ran up a deficit of $102.8 million over the last three fiscal years, according to the Los Angeles Times.
With the Big Ten offer, UCLA could receive $100 million per year if the conference “can snag the projected $1-billion media rights deal that’s set to begin in 2024.”
“The timing isn’t certain and the number of teams that would have been affected isn’t known, but the Bruins were headed toward an Olympic sports Armageddon without the infusion of cash that will accompany its departure from the Pac-12 Conference in 2024,” noted the Times.
UCLA Athletic Director Martin Jarmond said that lovers of Olympic sports “should be a fan of this move.”
UCLA Athletic Director Martin Jarmond (A.J. Mast/NCAA Photos via Getty Images)
When your program is in significant debt, it’s difficult just to maintain, never mind to invest. This not only preserves the programs now — which was not a given — but also will allow us to invest in them. This move allows us to reimagine what UCLA athletics can be with more strategic investment and resources,” said Jarmond.
As many as 30 colleges across the country have eliminated their athletics program over the past two years due to the hardships brought about by the coronavirus pandemic. Stanford also nearly cut 11 sports due to budgetary constraints but later backed off due to threats of lawsuits and other concerns.
Jarmond said that he hopes UCLA can shore up big wins to help the athletics program and other overlooked sports.
“How do we not only get to the Final Four, but win it all? How do we help the programs win and win big in this changing environment? These days, you have to be constantly increasing your resources to help coaches and student-athletes reach those goals and to stay competitive as a department,” said Jarmond.
As Outkick noted, former Pac-12 Conference commissioner Larry Scott contributed to UCLA’s financial woes when his “TV network that didn’t air a live game in a shortened 2020 season.”
Haven't received the documents from UCLA yet but this $62.5-million athletic department deficit for the 2021 fiscal year brings the Bruins' three-year shortfall to $102.8 million. https://t.co/wpqzp5XmFG
— Ben Bolch (@latbbolch) January 27, 2022
COMMENTS
Please let us know if you're having issues with commenting.