MEMPHIS, Tenn. – Memphis Athletics has identified difficult cost reduction measures in anticipation of revenue impacts associated with the COVID-19 global pandemic. While the full realization of those impacts remains uncertain, at a minimum, it is clear that social distancing requirements will have a significant impact on ticket sales capacity and Tiger Scholarship Fund revenues, among other projected losses.
As the budget planning process approaches completion, Memphis Athletics has taken proactive measures to reduce costs to $4.4 million for the 2020-21 fiscal year, according to Director of Athletics Laird Veatch. These efforts include a 14% reduction to administrative and sports operational budgets, in addition to significant personnel savings, as compared to prior year expenses.