Iowa State athletic director Jamie Pollard wrote a letter to Cyclones fans Wednesday and informed them of significant pay reductions and suspensions for athletic department coaches and staff in light of the COVID-19 pandemic.
Per Pollard, ISU will institute a "one-year, temporary pay reduction for athletics department coaches and certain staff," which would decrease the department payroll by over $3 million.
In addition, bonuses and incentives for all coaches have received a temporary one-year suspension, saving the department $1 million.
As far as fans go, ISU is putting a halt on an increase to Cyclone Club annual giving levels, which Pollard reports "will save donors approximately $2.5 million for required seating donations."
Season and individual ticket prices will freeze for all sports, and the deadline for club donations and football season ticket renewals has been suspended until May 29.
Lastly, fans can choose to make season-ticket or donation payments either monthly, quarterly or semi-annually.
Per Pollard, the changes were implemented in light of the $5 million shortfall the department encountered after the Big 12 and NCAA Division I men's basketball tournaments were canceled because of COVID-19.
The news comes in the midst of the NCAA canceling its winter sports championships and spring-sports seasons and championships.
Per World Health Organization figures from Wednesday afternoon, 827,419 people worldwide have confirmed cases of COVID-19 and 40,777 people have died.
In the United States, 163,199 people have confirmed COVID-19 cases and 2,850 people have died.