BYU COUGARS

BYU AD Tom Holmoe Projects $20M ‘Financial Shortfall’

Nov 20, 2020, 7:22 PM
BYU athletic director Tom Holmoe talks with the media during a roundtable discussion on campus Wedn...
BYU athletic director Tom Holmoe talks with the media during a roundtable discussion on campus Wednesday, Jan. 30, 2019, in Provo. (Brandon Judd, Deseret News)
(Brandon Judd, Deseret News)

PROVO, Utah – For the last 15 years, BYU athletics has operated without an annual financial loss. The novel Coronavirus pandemic has shown us that no business or entity is immune to the virus’s setbacks.

BYU athletic director Tom Holmoe spoke in a video released late Friday night, that featured an “All In” campaign for BYU athletics. Holmoe asked BYU donors, fans, and supporters to donate to the athletic department.

“Despite all of our current efforts, we are projecting a financial shortfall just short of $20 million by the conclusion of the 2021 athletic season,” said Holmoe. “You may have never had the opportunity to give before. You may have never been asked. I’m asking now. Now is the time to give. $10, $100, $1,000, or even a million dollars. Whatever you’re able to contribute.”

The global pandemic has taken a toll on BYU

Ticket sales are a big portion of BYU’s athletic department revenue. Last year, in the 2019-20 athletic year, ticket sales made up 26 percent of the athletic department’s revenue. That has been wiped out due to COVID-19. Only two BYU home football games have had paying customers in attendance this season.

“Along with every athletic department across the country, this global pandemic has taken a financial toll on us. Strong sources of revenue like season tickets and sponsorship dollars have taken a big hit,” said Holmoe. “And COVID testing has become a major expense on top of that.”

COVID testing has been a major hurdle for nearly every athletic department in collegiate athletics. BYU football players are testing three times a week with saliva-based testing. The Cougar basketball team is testing every other day with PCR testing. Those are high costs to put out the product every week.

Athletic Department asks for help

“As a department, we’ve worked hard to be financially responsible in the face of the COVID pandemic. BYU Athletics has been a self-sustaining entity for more than 40 years and is one of the few athletic departments in the country that has operated without an annual financial loss for the last 15 years. We’re not funded by an external entity. We do not receive money from tithing funds, as we believe that money goes to a far greater use. We work to achieve more success without overspending while still maintaining nationally-ranked teams. Not many power five teams can claim that.”

Near the end of the video, Kansas City Chiefs head coach Andy Reid, BYU greats Jimmer Fredette, Vai Sikahema, Steve Young, Jim McMahon, and Vice President Deseret Management Corporation and CEO of Deseret Book Sheri Dew said the phrase, “all in.”

Patti Edwards, the wife of the late LaVell Edwards, was also on the video and closed it out by saying, “I am all in. And I know that LaVell would be too if he were here.”

Individuals who are looking to donate to BYU athletics can donate at give.byu.edu/AllIn.

Mitch Harper is a BYU Insider for KSLsports.com and host of the Cougar Tracks Podcast (SUBSCRIBE) and Cougar Sports Saturday (Saturday from 12–3 p.m., KSL Newsradio). Follow him on Twitter: @Mitch_Harper and the KSL Sports app.

  • BYU Cougars Scoreboard

  • BYU Cougars Team Leaders

  • BYU Cougars Standings

BYU Cougars

Brigham Young Cougars guard Dallin Hall (30) lays the ball up during a NCAA basketball game at the ...
Matt Baiamonte

BYU Basketball Questions Answered In Win Against LMU

Considering the circumstances of the three game losing streak, the win against LMU goes down as the best win of the season for BYU basketball.
2 days ago
BYU Basketball, LMU, Fousseyni Traore...
Mitch Harper

Instant Takeaways From BYU’s 89-61 Win Over LMU

BYU basketball rolls through LMU to return to 5-5 in West Coast Conference play.
2 days ago
NFL-Pro-Bowl-Football-Logo...
Kyle Ireland

Tyler Huntley Helps AFC Take Early Lead Over Fred Warner, NFC At Pro Bowl Games

Former Utah QB Tyler Huntley helped the AFC take an early lead over former BYU LB Fred Warner and the NFC at the Pro Bowl Games.
2 days ago
BYU Football, David Latu, Signing Day...
Mitch Harper

BYU Football Recruit Announces Commitment At Father’s Grave

David Latu had one of the more emotional Signing Day announcements you'll watch.
3 days ago
BYU Football - Royal Virgil Helmet...
Mitch Harper

Former Stanford Commit LJ Martin Signs With BYU Football

BYU picked up a talented running back from Texas on Signing Day.
3 days ago
BYU Football, Big 12 Schedule...
Mitch Harper

Five Takeaways From BYU Football’s Inaugural Big 12 Schedule

The key takeaways from BYU's inaugural Big 12 Conference schedule.
4 days ago

Sponsored Articles

High angle view of the beautiful Rose Bowl Stadium...
KSL Digital Sales

How to Prepare for the 2023 Rose Bowl

Everything you need to know to plan your 2023 Rose Bowl trip in Pasadena, California. This year, the Utes will face Penn State.
Jordan-Clarkson-Utah-Jazz...
KSL Digital Sales

Notable Moments From The Utah Jazz Season… So Far

At the beginning of the season, the Utah Jazz were second to last. Now they rank in the top 10 teams in the Western Conference.
Football soccer ball on grass field on stadium...
KSL Digital Sales

Everything You Need to Know to Watch the 2022 World Cup

Find out where and when to watch the upcoming games and final match for the 2022 World Cup in Qatar, including where to find live updates.
ksl sports logos...
KSL Sports

KSL Sports Newsletter: Sign Up Now

Sign up today for the KSL Sports newsletter. Get the latest Utah sports news delivered to your inbox.
jimmy-buffett-tour-art...
KSL Sports

Win Tickets Wednesday: Jimmy Buffett

Get your Hawaiian shirts ready.
Iron Maiden tour...
KSL Sports

Win Tickets Wednesday: Iron Maiden

Iron Maiden returns to Utah in 2022 with The Legacy of the Beast tour.
BYU AD Tom Holmoe Projects $20M ‘Financial Shortfall’