Michigan Cuts Jobs As Athletic Department Faces 'Significant' Financial Loss In 2020

The financial situation inside the University of Michigan athletic department is starting to get real serious to the tune of 21 job cuts, a hiring freeze, pay cuts and a revenue loss that could hit $100 million in 2020. The revenue projection from athletic director Warde Manuel was announced Tuesday on the Conqu'ring Heroes podcast where Manuel made it clear the losses would be higher than his $61 million projection back in August.

"The impact is upwards of almost half our budget, about $100 million," a solemn Manuel said on the podcast, describing it as a "significant loss."

"We have to take as many significant reductions as we can and cut back as we have already, and as we continue to do our budgets, salary reductions and those kinds of things. We just keep moving through it and try to figure it out.”