Iowa State athletic director Jamie Pollard said the athletic department stands to lose $40 million in the next six months if sports cannot be played this fall.

In an open letter to the Iowa State community released Monday, Pollard also added that the university itself stands to lose millions as well as a result of the coronavirus pandemic. He said the revenue loss for its educational fund for the 2021 fiscal year is $41 million.

Since the start of the pandemic in the U.S. through Aug. 23, 2020, the revenue losses and costs at the university are estimated to be an additional $73 million.

"Some people have incorrectly framed the issue as safety versus revenue generation. The simple fact is that reality lies somewhere in the middle," Pollard wrote. "As leaders, we remain committed to safety first."