Syracuse University has been one of many colleges and universities to experience a serious financial hit as a result of the ongoing COVID-19 pandemic. To react to the dire financial situation at the university, head football coach Dino Babers is among the many taking a reduction in pay to help save the Syracuse budget.
Syracuse released a statement on Monday addressing how the university is handling the concerns about finances. Among the actions being taken by the university is a faculty and staff hiring freeze and a cost reduction of 10% for senior staff members around the university. and select coaches within the athletic department. Babers is one of those select coaches taking a decrease in pay. Another Syracuse coach taking a cut in pay is men’s basketball coach Jim Boeheim. According to the school’s statement, the money saved from those pay cuts will be used to continue supporting students, faculty, and staff impacted by the current situation.
According to USA Today, Babers was due $2.27 million in 2019.
The need for these changes to the pay structure is in response to Syracuse claiming to have lost out on $35 million in revenue and expenses.
“In the few short months since our response to COVID-19 began, the University has experienced more than $35 million in unplanned expenses and unrealized revenue,” a message from Syracuse University’s leadership of chancellor Kent Syverud, interim vice chancellor and provost John Liu, and senior vice president and chief financial officer Amir Rahnamay-Azar said on Monday. “While there are many unknowns for the coming year, we can realistically expect further and significant financial challenges ahead.”
Syracuse will put a hold on all on-campus construction projects with the notable exception of the ongoing renovation of the Carrier Dome’s roof.
As previously reported, power conference schools could be at risk of losing out on $78 million if the college football season is not played. If that ends up being the case, more people around Syracuse may be asked to take a pay cut, and Babers could be in jeopard on losing out on even more pay as well.
