Jamie Pollard, Iowa State Director of Athletics, addressed the University's financial outlook with the prospect of a college football season in question:
"If we are unable to play sports this fall, the athletics department would incur approximately $40M in unfunded expenses in the next six months. I am working closely with President Wintersteen to find innovative contingency plans to address the difficult challenges presented if these projections become a reality. However, the truth is that there are significant financial impacts being felt across the university and the state that limit our options. The university's revenue loss for its educational fund for FY21 is more than $41 million. Since the start of COVID-19 through August 23, 2020, the university's revenue losses and costs are estimated to be an additional $73 million. Furthermore, state agencies, including the university and its departments, are not allowed to incur debt for operating expenses."
Read Pollard's entire letter here:
https://cyclones.com/news/2020/7/13/athletics-pollard-addresses-cyclone-nation.aspx