COLLEGE FOOTBALL

Report: Pac-12 Plans To ‘Rescue Cash-Strapped’ Athletic Departments With Loan Program If No Football

Aug 5, 2020, 11:24 AM
Larry Scott - Pac-12 Conference Commissioner - Utah...
University of Utah Interim President Lorris Betz, left, and Pac-12 Commissioner Larry Scott hold up a Pac-12 Day jersey during Pac-12 Celebration Day at the State Capitol in Salt Lake City on Friday, July 1, 2011. (Courtesy of Deseret News)
(Courtesy of Deseret News)

SALT LAKE CITY, Utah – The Pac-12 Conference plans to use a “mammoth loan program” to “rescue cash-strapped” athletic departments if the 2020 college football season is canceled, according to Jon Wilner of The Mercury News.

On July 31, the conference announced that its school would play a 10-game conference-only schedule this fall.

If the season were to be canceled because of the coronavirus pandemic, Pac-12 schools would suffer significant financial losses without television revenue and more.

Football programs typically make up the majority of revenue generated for athletic departments.

In the event of a canceled season, the Pac-12’s loan program would reportedly be “large enough to cover that loss for each school” within the conference.

Wilner’s report highlight that Utah’s football program brought in $66 million during the 2019 fiscal year. That amount equaled two-thirds of all revenues generated by the Utes’ athletic department.

According to The Mercury News, “the loan would provide a maximum of $83 million for each university at a rate of 3.75 percent over 10 years” and “if all 12 opted for the maximum amount, the total would be $996 million.”

“The conference is trying to be nimble and give schools some options,’’ a source told Wilner. “All loan capacity is being used for things besides athletics. They’re trying to get the core (academic) programs through for the next three years without firing people.”

The first Pac-12 games are slated to begin on September 26. Part of the delayed schedule included pushing the Pac-12 title game two weeks from its originally scheduled date.

The University of Utah is scheduled to open its season at Washington State on September 26.

  • Utah Utes Scoreboard

  • Utah Utes Team Leaders

  • Utah Utes Standings

College Football

Brant Kuithe - Utah Utes - USC Trojans...
Michelle Bodkin

Kuithe Shares Message Of Encouragement After Season Ending Injury

Since the injury last weekend, Kuithe has been silent until he posted a message of encouragement and thanks to his Twitter Tuesday afternoon.
24 hours ago
Ja'Quinden Jackson - Utah Utes...
Michelle Bodkin

Utah Running Back Ja’Quinden Jackson Finding Joy In A New Position

It's hard to argue few have had as tough of a time over the past few years as newly minted running back Ja'Quinden Jackson has, but he says he's finding new joy in the game again.
24 hours ago
NFL Draft, Jaren Hall, BYU QB...
Mitch Harper

NFL Draft Analyst Todd McShay Weighs In On BYU QB Jaren Hall

BYU QB Jaren Hall is an intriguing prospect for the 2023 class in the NFL draft.
24 hours ago
Cam Rising - Dalton Kincaid - Utah Utes - Colorado Buffaloes...
Michelle Bodkin

With Brant Kuithe Out, Thomas Yassmin Could Shine

With start tight end Brant Kuithe out for the year, the Utes will most likely be turning to rugby phenom turned tight end Thomas Yassmin to shine in his place.
24 hours ago
BYU Football, LES, LaVell Edwards Stadium...
Mitch Harper

BYU Football Adds FCS Team To Open 2024 Schedule

Pieces are coming together for BYU's future non-conference schedules as a Big 12 member.
24 hours ago
Blake Anderson - Utah State Aggies...
Trevor Allen

USU HC Blake Anderson: I Hate To See The BYU Rivalry Game Go

Utah State head coach Blake Anderson is sad to see the rivalry game with BYU go but it is giving him and his team more motivation going into Provo.
24 hours ago
Report: Pac-12 Plans To ‘Rescue Cash-Strapped’ Athletic Departments With Loan Program If No Football