Miami Hurricanes economic impact of coronavirus shutdown
One of the letters was posted on the official website
and the other was sent to Hurricane Club supporters. Both touched on the financial impact the Miami athletic department would feel from the loss of revenue the shutdown of college sports has caused. The athletic department staff is working remotely.
"“Our staff might be working remotely but still works with the same passion with which we’ve always approached our jobs. Our operations continue. Our communication continues. Our innovation continues. Our stewardship continues. As always, if we can be of any assistance during this time, please don’t hesitate to reach out… Most UM staff are working remotely through at least April 17. There are still many unknowns at this time, but we are nevertheless preparing for the day when classes resume, when practices resume, when games resume – when life returns to a better semblance of normalcy.”"
The letters were almost identical. A few things were changed in order to speak directly to Hurricane Club members. As a non-essential business, the Hurricane Club offices are closed indefinitely per the city of Coral Gables. James acknowledged the need for the support of the Hurricane Club members.
"“Your generosity and support as Hurricane Club members helps provide the necessary resources to continue to care for our young men and women through these challenging times.”"
In compliance with the City of Coral Gables, the Hurricane Club offices on campus are closed until further notice.
— Miami Athletic Development (@Give2UM) March 26, 2020
The Hurricane Club will continue to be available Mon-Fri from 8:30am-5:00pm at 305-284-6699 or at hurricaneclub@miami.edu.
Please stay safe!
Miami’s ACC rival Louisville received $1.835 million last season for their basketball team and $1.4 million to disperse to other sports in revenue sharing following the 2018-19 academic year. In 2020 that number could drop to $1.2 million. The NCAA Board of Governors announced the $225 million will go directly to student-athletes.
"“Specifically focus on supporting college athletes…In its decision, the Board of Governors stressed the importance of using the distributions to aid college athletes during the uncertainty of the current environment, along with the importance of planning carefully with less revenue. The decision also allows membership to engage in planning while the NCAA continues to work with its contractual partners.”"
Each game appeared in and then win after the first round by an ACC member school would have paid the conference $1.6 million. It is tough to project how well a conference will do in a tournament. After Virginia won the national championship in 2019, the ACC earned $33.6 million in NCAA Tournament shares.