����vlog

NEWS AT FIVE STARTS NOW, IOWA STATE FANS WILL HAVE TO PAY MORE FOR TICKETS THIS YEAR, AND THE UNIVERSITY SAYS SEVERAL BIG PROJECTS ARE ON HOLD. THIS IS TO MAKE UP FOR A PROJECTED $147 MILLION BUDGET DEFICIT THROUGH 2031. THAT IS MORE THAN $24 MILLION A YEAR. THE BOARD OF REGENTS WILL BE TALKING ABOUT THESE CHANGES NEXT WEEK. A LOT OF PEOPLE WILL BE LISTENING FOR THESE DISCUSSIONS. CASEY MARCUS MCINTOSH JOINS US LIVE IN AMES THIS EVENING WITH A LOOK AT THESE CHANGES THAT THE ATHLETIC DEPARTMENT IS NOW MAKING TO BRIDGE THAT GAP. MARCUS. WE’RE STANDING IN FRONT OF JACK TRICE STADIUM HERE AT IOWA STATE UNIVERSITY IN AMES, WHERE THE ATHLETIC DEPARTMENT IS FACING A YEARS LONG BUDGET SHORTFALL THAT STARTS THIS YEAR. BUT THIS YEAR’S SHORTFALL WILL BE COVERED BY RESERVES. BUT REGARDLESS, IOWA STATE SAYS IT WILL STILL HAVE TO PASS ON SOME OF THAT COST TO THE FANS. YOU WILL PAY MORE THE NEXT TIME YOU’RE IN THE ARENA OR STADIUM TO CHEER ON YOUR BELOVED IOWA STATE UNIVERSITY. CYCLONES. ISU ATHLETICS WILL START PASSING THE EXPENSE OF SALES TAX ON TICKETS TO THE FANS. I MEAN, THAT DOESN’T SOUND VERY GOOD IN MY OPINION. IT WILL SAVE THE DEPARTMENT ABOUT $1.5 MILLION A YEAR, MONEY NEEDED TO MAKE UP $30 MILLION IN NEW RECURRING COSTS EVERY YEAR. A MAJORITY OF THAT IS THE COST TO PAY ATHLETES IN THE NEW REVENUE SHARING LANDSCAPE. WE SHOULD KNOW HOW THINGS START SHAKING OUT FOR THE FANS IN A MATTER OF WEEKS. I THINK JAMIE’S DONE A REALLY GOOD JOB OF TRYING TO BE COGNIZANT OF THE OF OUR FAN BASE AND KNOWING HOW SPECIAL IT IS TO HAVE, YOU KNOW, SO MANY PEOPLE TRAVEL FROM SO FAR TO COME, YOU KNOW, AND BUY SEASON TICKETS AND SUPPORT OUR FOOTBALL PROGRAM. THE ADDED COST BENEFIT PLANS FOR A NEW $20 MILLION WRESTLING PRACTICE FACILITY, ALONG WITH $25 MILLION IN RENOVATIONS FOR HILTON COLISEUM. WE SPOKE WITH IOWA STATE UNIVERSITY ATHLETIC DIRECTOR JAMIE POLLARD ON JULY 8TH. HE SAYS THE GOAL IS TO FIGURE OUT HOW TO MAKE THE NEW EXPENSES WORK LONG TERM. WE HAVE TO FIND NEW REVENUE SOURCES. WE GOT TO FIGURE OUT WAYS TO CONTAIN EXPENSES. THAT INCLUDES A 20% INCREASE IN THE REQUIRED ANNUAL DONATION LEVELS FOR MEMBERSHIP IN THE CYCLONE CLUB. BUSINESS OWNERS IN AMES ARE WATCHING WHAT IS GOING ON, HOPING PEOPLE COME TO THE GAMES WILL STILL HAVE SOME MONEY LEFT OVER TO SPEND ON MAIN STREET. EVERYBODY ELSE DOWN HERE RELIES ON THE THE DOLLAR OF, YOU KNOW, THE PEOPLE COMING TO IOWA STATE ATHLETICS, WHETHER IT BE FOOTBALL OR BASKETBALL OR WRESTLING OR WHATEVER IT MAY BE. SO YEAH, IT’S IT’S IMPORTANT TO US. YOU KNOW, WE RELY ON THAT MONEY AS WELL. WE RECEIVED A STATEMENT FROM THE IOWA STATE UNIVERSITY ATHLETIC DEPARTMENT JUST BEFORE 4:00 THIS AFTERNOON. IT READS, IN PART, WITHOUT NEW REVENUE AND THE IMPLEMENTATION OF MITIGATION STEPS, THE CUMULATIVE BUDGET GAP COULD INCREASE TO $147 MILLION AT THE END OF FISCAL YEAR OF 2031. THE ATHLETIC DEPARTMENT IS ALREADY MAKING CHANGES TO REDUCE THE LIKELIHOOD OF THIS OUTCOME. NOW, THE IOWA BOARD OF REGENTS WILL CONSIDER AND VOTE ON THE BUDGETS PRESENTED BY ISU ATHLETICS AND ALL THREE PUBLIC UNIVERSITIES NEXT WEEK. WE’RE LIVE IN AMES.