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The University of Arizona has found itself in an awful situation because it grossly miscalculated its finances.
Arizona initially thought it had 156 days of cash for this fiscal year. Well, it turns out it only has 97 days of cash on hand.
Robert Robbins, the university’s president, admit that cutting sports teams is on the table for Arizona at the moment.
“Everything is on the table in terms of dealing with athletics,” he said. “This is an issue that is going to require a lot of tough decisions.”
Arizona currently has 23 sports teams. It’s possible the school trims that number down to 17, which is the league average in the Big 12.
Arizona accidentally miscalculated their finances by a casual quarter billion, and will now make extreme cuts to make up the deficit. Athletics is solvent, but cutting sports is on the table, per president Robert Robbins.https://t.co/0tFa7eDXd8
— RedditCFB (@RedditCFB) November 9, 2023
Another potential solution for Arizona is decreasing the amount of financial aid that’s given to students.
“One of the solutions that I think we need to focus on is to make the tough decision to decrease the amount of financial aid that we’re giving to students,” Robbins said.
Either way, Robbins knows Arizona messed up big time.
“I did know we were spending money, but I thought we had reserves to spend money on,” Robbins said, via Tuscon.com. “But this is a big miscalculation.”