- Jul 11, 2006
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UCLA's athletic department posts $21.7-million deficit for 2020 fiscal year
UCLA’s athletic department, having doubled down on debt in the wake of a record shortfall, is facing a far bigger money crunch.
The Bruins’ $21.7-million deficit for the 2020 fiscal year, which brought their two-year deficit to $40.6 million, might seem like pocket change compared with how much deeper they are poised to plunge into the red.
The dual punch of COVID-19 and a fractious divorce from Under Armour will wallop a 2021 budget that could drastically exacerbate the deficit, leaving the department in need of a sustained turnaround sparked by football and basketball success driving ticket sales and donations to help close the gap in future years.
UCLA’s athletic department, having doubled down on debt in the wake of a record shortfall, is facing a far bigger money crunch.
The Bruins’ $21.7-million deficit for the 2020 fiscal year, which brought their two-year deficit to $40.6 million, might seem like pocket change compared with how much deeper they are poised to plunge into the red.
The dual punch of COVID-19 and a fractious divorce from Under Armour will wallop a 2021 budget that could drastically exacerbate the deficit, leaving the department in need of a sustained turnaround sparked by football and basketball success driving ticket sales and donations to help close the gap in future years.