LOUISVILLE, Ky. (AP) — Louisville athletic director Vince Tyra said head coaches and senior department staffers will take 10% salary cuts among proposed budget reductions to offset anticipated revenue shortfalls because of event cancellations due to the coronavirus pandemic.
Tyra said during a conference call on Thursday that his department aims to trim about $15 million from the proposed 2020-21 budget. That includes 10% salary reductions for men’s basketball coach Chris Mack, football coach Scott Satterfield, women’s basketball coach Jeff Walz and baseball coach Dan McDonnell, whose combined salaries for next year total about $10 million, the AD said. Tyra added that cuts were being discussed in other areas but did not provide any details.
The AD also said he will forego his $150,000 bonus the next two years and other compensation. Tyra added that some coaches voluntarily cut their salaries, with contracts amended to reflect the reductions — though he did not say which coaches. Louisville’s athletic department has also imposed a hiring freeze and despite the savings is considering other cuts, including furloughs.
“These are difficult decisions , but you’ve got to make them,” Tyra said. “You’ve got to be fearless to make the right decision here. … We may be on buses more than teams like. Incidental meals, just trimming of things we’ve been able to do. Everything is under review right now.”