WEST LAFAYETTE, Ind.–The postponement of fall sports by the Big Ten Conference is creating a new challenge for universities: finding ways to bring in revenue when a significant source of their revenue was taken away.
Purdue University is one of those schools in the Big Ten Conference dealing with that problem.
“There really aren’t enough levers that we can pull and adjustments we can make to cover all of the fixed costs that exist at this point, including having to make some very tough personnel and programmatic reductions in the near term, there will still be a gap,” said Purdue University Vice President and Director of Athletics Mike Bobinski in an interview with Inside Indiana Business over the weekend.
Bobinski says their main sources of revenue are “all event and activity-based.”
“Other than pure philanthropy and donations that we receive from John Purdue Club members, everything else is based on us holding events like football games and basketball games,” said Bobinski.
So now Purdue University is asking for help from John Purdue Club members and others through what they are calling their “More than a Game” fundraiser, which Bobinski calls “a very aggressive fundraising campaign.”
Bobinski says the John Purdue Club memberships aim to fund the $12 million scholarship bill for student-athletes, and this separate fund will help offset a potential Purdue Athletics shortfall that could approach or exceed $50 million.
“We’re really appealing to our fan base to help us through what really is the most challenging time in our existence,” said Bobinski.
Visit Lafayette-West Lafayette Chief Executive Officer Jo Wade says a fall without Purdue football means about more than $20 million in lost spending for the economy.