Early last month, Michigan athletic director Warde Manuel wrote a letter to season-ticket holders and asked for donations as the athletic department faced "an unparalleled level of financial uncertainty" during the COVID-19 pandemic.
The situation has only become more dire since.
In an appearance on the "Conqu'ring Heroes" podcast with Jon Jansen, Manuel revealed that the athletic department will take a nearly $100 million hit after the Big Ten's decision to postpone all fall sports on Aug. 11 — including football, the department's prime bread-winner.
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"The impact is upwards of almost half our budget, about $100 million," Manuel said.