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MINNEAPOLIS -- The University of Minnesota Board of Regents鈥� emergency meeting Tuesday estimated the coronavirus pandemic could strip Gophers athletics of anywhere between $10 million and $75 million.

Using 鈥渧ery early estimated revenue losses,鈥� the U outlined three scenarios in how the department鈥檚 finances might unfold amid uncertainty on when regular athletic activities could return in the COVID-19 crisis.

Here are the projected losses in the three scenarios:

• 鈥淏est case鈥� though spring: $10 million
• 鈥淢oderate鈥� into summer: $30 million
• 鈥淪evere鈥� into fall: $75 million

The U of M鈥檚 athletic spending was $129 million in 2018-19, so the severe case would be a 58% decrease in what the university spent in the last athletic year. Revenue primarily comes from ticket sales, NCAA allotments, TV contracts, fundraising and merchandise sales.

University of Minnesota president Joan Gabel asked Gophers athletic director Mark Coyle to present budgets that line up with each of these scenarios at the Regents meeting May 7-8.

Gabel made this request to Coyle鈥檚 department, and to the U of M鈥檚 medical school, because of the 鈥渦nique attributes to parts of the institution to which they are responsible. They will prepare their own plans 鈥� in sync with the regular budget presentation that was scheduled for that time.鈥�

Coyle said in a statement Tuesday that he has 鈥渉ad several meetings with our head coaches, staff and the leadership of our Student-Athlete Advisory Committee and conveyed to them that our budget will look different going forward. We are currently evaluating our budget. 鈥�

鈥淚t is also important to note that the models presented today reflect only potential lost revenue and do not take into consideration any expenses that would not be incurred in each scenario.鈥�

The 鈥渂est case鈥� would be a return to activities as normal this fall. The 鈥渕oderate case鈥� would be reduced activity through summer and 鈥渘ontrivial鈥� impacts into fall.

Regent David McMillan said he believes the 鈥渕oderate鈥� case is actually the 鈥渂est鈥� case. 鈥淚 don鈥檛 want to be a downer here,鈥� he said.

The 鈥渟evere case鈥� is a reduction into fall and a return to operations in spring semester 2021.

Gabel said it is premature to say when a decision would be needed on starting fall classes as usual, but they 鈥渨ant as much runway as possible.鈥� That could mean developments in the 鈥渆arliest part of summer,鈥� she said.

The NCAA reduced its financial distribution to Division I conferences from approximately $600 million to $225 million on March 26. The cut was due to the cancellation of the NCAA men鈥檚 basketball tournament that generates roughly $1.1 billion in annual revenue.

Division I programs received 2% to 5% of total operating revenue from the NCAA in fiscal year 2019, USA Today reported.

Iowa State was one of the first major NCAA Division I programs to make cost-cutting moves. Last week, Cyclones AD Jamie Pollard made a one-year 10% reduction to pay and cut to bonuses for coaches and himself, delaying seating donation plans and freezes on season-ticket prices.

That plan would save $4 million, Pollard said, and that seems to only be the first step as time continues to pass without games and practices amid social distancing.

鈥淏ut if we can鈥檛 play football this fall,鈥� Pollard told reporters in Iowa, 鈥淚 mean, it鈥檚 Ice Age time.鈥�