The office of Wallace Loh, the President of the University of Maryland, issued a statement on Tuesday announcing the formation of the President's Commission on Intercollegiate Athletics. The commission will be charged with finding areas in which the Maryland athletic department can cut costs and increase revenue.
Maryland athletics have lost money during the recent economic downturn and have begun to deplete their reserve funds. The commission is intended to make the athletic department profitable once more.
By November 15, the commission will submit its report to Maryland's administration and Athletic Director Kevin Anderson. After that, the timeline will go as follows:
- By December 1, 2011, Director Anderson submits to [the University's Athletic Council] and to [the president's] office his response to the Commission's report.
- By December 15, 2011, UAC submits to my office its response to both the Commission's report and Director Anderson's response.
- By December 31, 2011, I announce my decisions, informed by these submissions and any further consultations, as appropriate, with various constituencies. The Commission's report and the requested responses will be made public.