Baylor has lost an estimated $76 million due to sexual assault scandal
The widespread sexual assault scandal involving Baylor’s football program has cost the university more than $76 million, according to estimates released by a private firm.
Bears for Leadership reform commissioned HSSK, a professional services firm, to estimate expenses and lose revenue due to the scandal. They projected potential losses of more than $200 million down the line.
“It is my estimation that the financial impact of the sexual assault crisis at Baylor could be as much or more than $223 million consisting of $121.7 million in costs and $101.3 million in lost revenues through 2019,” HSSK managing director Jared Jordan wrote, according to KWTX TV.
Head coach Art Briles was fired in May as part of the program’s ongoing sexual assault scandal, involving 17 reported sexual assault allegations from women that involved 19 Baylor players, dating back to 2011. Briles is currently suing Baylor officials for libel. Briles and the school agreed to a $17 million buyout, acccording to HSSK’s assessment.
Baylor also cut ties with former president and chancellor Kenneth Starr and put athletic director Ian McCaw on probation until his eventual exit, as part of the process.