Texas Tech athletic director Kirby Hocutt says the school will cut nearly $7 million from the athletic budget in the upcoming school year, including eliminating performance bonuses for himself and Red Raiders coaches.
The cuts are needed because of the economic shutdown caused by the coronavirus pandemic, and deeper cuts may be needed if college football can’t play a full season, Hocutt told A-J Media in Lubbock, Texas.
Hocutt did not say the school was cutting any jobs or sports. Most of the cuts will come from reducing administrative and operational expenses. Eliminating the bonuses for the coaches and himself will save nearly $2 million, he said.
“The starting point here is simply we’re not spending any money right now that we don’t have to, and we’re not spending much,” Hocutt said.