Chancellor John Christensen said the athletic department's financial trend lines were heading for a "train wreck" if it remained in Division II. Expenses were $10.3 million in 2009-10, with $4.5 million in revenue. The estimated $5.9 million in institutional support required in 2009-10 was projected to increase to $7.9 million by 2015-16.
Christensen and Alberts told regents that the greater revenue potential associated with going to Division I, plus the elimination of the two sports, gives UNO a better chance to have a sustainable business model.
"If we didn't achieve financial stability, we weren't going to have an athletic department at all," Alberts said.
Alberts said the move also would give UNO greater visibility and prestige and would better align it with peer universities.
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According to a feasibility report by Massachusetts-based college athletics consultant Alden & Associates, the elimination of football and wrestling are necessary to keep athletics afloat.
UNO loses about $1.2 million a year on football alone. The report said that figure would increase significantly in Division I because the program would require 27 additional scholarships, additional coaches and more funds for recruiting and travel. Football coach Pat Behrns did not attend the meeting.
The report also said wrestling couldn't sustain its success given that it would be impossible for UNO to fund the program at the level it would require to be competitive in Division I.
UNO's wrestling team won its third straight national championship on March 12. Hours later, Alberts told Denney by phone that the program was targeted for elimination.
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