(A-P) Iowa’s athletic department is working to secure a $75 million loan to cushion the blow of losing a projected $100 million in revenue because of the coronavirus pandemic.

Athletic director Gary Barta said the Hawkeyes had built a strong financial foundation before the coronavirus forced cancellation of the NCAA men’s basketball tournament and led to the Big Ten’s postponement of football until after Jan. 1. Now the athletic department faces a $60-$75 million deficit.

Iowa announced initial budget reductions in July, and after the Big Ten pulled the plug on fall football earlier this month the Hawkeyes announced Friday they would drop men’s gymnastics, men’s tennis, and men’s and women’s swimming and diving.

Barta said there are no plans to eliminate other sports and figures it will take about 15 years for the athletic department to pay off the loan. He said he had a “guestimate” for how much money Iowa could bring in from post-Jan. 1 football, but he declined to disclose the figure.