“Football Field” by danxoneil
by Evan McNally, Sarah Wormald–
Coronavirus cancellations and complications have led to an immense financial deficit in college sports programs across the nation. The NCAA lost $375 million as a result of the cancellation of March Madness in the spring.
If football is cancelled during the fall 2020 season, it is estimated that college football programs will lose $4 billion in revenue. The impact of this loss trickles down to other sports, and some schools have cut non-revenue sports to compensate.
Virginia Tech is also anticipating formidable challenges to their revenue streams, mainly those including support from the ACC, ticket sales, and sponsorships. Over 50% of Virginia Tech’s athletic revenue during 2019 came from football.
Additionally, Virginia Tech football serves as a massive economic stimulus for the town of Blacksburg, with a potential $70 million to be lost if football is cancelled. College sports will continue to adapt in response to Covid-19 in the upcoming months.
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