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REP. COLLINS: Iowa Athletic Department Still has not Repaid University Loan Despite Record Revenues
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REP. COLLINS: Iowa Athletic Department Still has not Repaid University Loan Despite Record Revenues
On June 30, 2021, the University of Iowa athletic department signed an agreement to borrow $50 million from the university’s general fund cash reserves. As of now, the vast majority of this loan has not been repaid despite record breaking athletic department revenues. This internal loan was arranged to cover significant financial losses due to the Big 10 conference’s self-imposed COVID-19 restrictions on the number of football games and attenda…
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