WASHINGTON, D.C. — The LEAD1 Association (“LEAD1”), which represents the athletics directors of the 130-member schools of the Football Bowl Subdivision (“FBS”), today announced a series of initiatives to best prepare for the unknown financial challenges that the FBS now faces due to the COVID-19 pandemic. LEAD1 is implementing the following initiatives:
- Cutting payroll — President and CEO of LEAD1, Tom McMillen, and other association senior management will be cutting their pay by 20%.
- Postponing the LEAD1 Annual Fall Meeting and LEAD1 Institute until 2021, dates to be determined.
- Pursuing all available aid offered under the CARES Act such as payroll tax deferrals, loans and payroll assistance.
- Curtailing all spending (including travel) except for essential expenditures such as rentand computer network services.
- Adopting virtual offerings to attract potential sponsors including the previously announced, “Webinar Forum Series,” weekly “Athletic Director Town Hall Meetings,” and “Virtual Happy Hours.”
- Holding all association meetings via video conferencing or telephonically.
“We are taking the necessary steps to best prepare for the financial challenges our industry is now facing,” said Tom McMillen. “Taking a 20 percent pay cut and cancelling events will help us try to weather the storm. These actions underscore the many financial sacrifices that our member schools have already taken.”
For more information regarding LEAD1, please contact Hannah Dewey (email@example.com).
About the LEAD1 Association: LEAD1 represents the athletics directors of the 130 member universities of the Football Bowl Subdivision (FBS). Key to the LEAD1 mission are influencing how the rules of college sports are enacted and implemented, advocating for the future of college athletics, and providing various services to our member schools. For more information, please visit www.LEAD1Association.com.