UCLA’s athletic department, having doubled down on debt in the wake of a record shortfall, is facing a far bigger money crunch.
The Bruins’ $21.7-million deficit for the 2020 fiscal year, which brought their two-year deficit to $40.6 million, might seem like pocket change compared with how much deeper they are poised to plunge into the red.
The dual punch of COVID-19 and a fractious divorce from Under Armour will wallop a 2021 budget that could drastically exacerbate the deficit, leaving the department in need of a sustained turnaround sparked by football and basketball success driving ticket sales and donations to help close the gap in future years.