The OU Board of Regents is projecting at least a $25 million decline in revenue for the athletic department for the fiscal year 2021.
The forecast, as part of the 2021 budget the board approved Thursday, does not account for private gifts received or contracts made by the athletic department.
The coronavirus pandemic has shut down the collegiate sports world, with the last competitions having taken place in March. Big 12 commissioner Bob Bowlsy said in March that the conference lost about $6 million for canceling its basketball tournament in Kansas City.
OU is projecting a year-to-date revenue decrease of roughly $25,000 in fiscal year 2021.