The Ohio State Buckeyes take the field to a nearly empty Ohio Stadium because of COVID-19 restrictions before an NCAA Division I football game between the Ohio State Buckeyes and the Nebraska Cornhuskers on Saturday, Oct. 24, 2020 in Columbus, Ohio. Ohio State’s athletic department is taking out a loan from the university to cover the tens of millions of dollars in revenue losses caused by the coronavirus pandemic several years ago. The department, which reported operating at a $63.6 million budget deficit during the 2021 fiscal year, the period covering the football season upended by the public health crisis, finalized a loan in December, according to information provided to The Dispatch on Friday. Under the terms of the agreement, the internal loan issued to the department totals $48 million and is to be repaid over 30 years through athletics operating funds and endowment. The interest rate on the loan…
Continue Reading: Ohio State to issue M loan to athletic department to cover COVID-19 pandemic losses
