Michigan football head coach Jim Harbaugh and men's basketball head coach Juwan Howard have each accepted 10 percent salary cuts for the 2021 fiscal year to help compensate for the athletic department's projected $26.1 million budget deficit due mostly to the COVID-19 pandemic, per Bryan Fischer of College Football Talk:
The cancellation of sports has caused numerous athletic departments to make budget cuts, including Michigan's.
NCAA winter championships were canceled this year, and spring sports seasons ended in mid-March.
Although the fall sports season is scheduled to begin on time, it's unclear if that will be case because of the pandemic.