The downturn in the economy has left nothing untouched, including Indiana University’s Athletics Department. Because IU’s Athletics Department is self-sustaining, it is especially vulnerable in bad economic times. IU Athletics Director Fred Glass said due to the way the department generates revenue it is left without a safe harbor.
“We generate our own money,” Glass said. “We either earn it through ticket sales and sponsorships and that sort of thing, or we ask for it from our generous donor base. We don’t get subsidized by the university or the legislature.”
During a bad economy one easy way for people to tighten the belt is to opt out of going to sporting events. However, Glass said he remains confident that next year the department will meet its budget goals.
“Next year we’re going to have a flat budget,” he said. “We’re setting the table and trying to batten down the hatches and get tighter and smarter so that when the economy turns up we’ll be a position to really exploit that.”
Speaking on WFIU’s “Noon Edition,” Glass said he would rather have a growing budget to fund some of the projects he has in mind, but explained a flat budget is what’s needed to weather the economic times.