University of Iowa Gives Athletics $50 million ‘Loan’

Vanessa Miller for The Gazette:

Given tens of millions in losses the University of Iowa Department of Athletics is absorbing from COVID-19’s devastating impact, outgoing UI President Bruce Harreld has agreed to permanently end an earlier deal requiring athletics to contribute $2 million a year in direct support to the main campus.

Additionally, the UI main campus — facing budget cuts and tens of millions in pandemic-propelled losses of its own — is nonetheless shipping $50 million to the typically self-sustaining athletics department this budget year.

The University of Iowa’s self-sustaining athletics department has an endowed head football coach who has long been the highest paid public employee in the state.