Syracuse men's basketball coach Jim Boeheim, football coach Dino Babers and athletic director John Wildhack will take a voluntary 10% pay cut to help deal with financial shortfalls as a result of the coronavirus pandemic.

University chancellor Kent Syverud made the announcement Monday in a letter to the Syracuse community. In it, Syverud said the university's senior leadership team, as well as members of the Chancellor's Council and coaches in football, basketball and lacrosse would take the pay cut. The money generated through the cuts will be reallocated to support students, faculty and staff directly affected by the pandemic.

Syverud noted that since the university's response to COVID-19 began, Syracuse has had more than $35 million in unplanned expenses and unrealized revenue. In addition to the pay cuts, Syracuse is taking other cost-cutting measures, including temporary hiring freezes, a 5% cost reduction across administrative, academic and auxiliary units, and a hold on new capital improvement projects. Work on replacing the Carrier Dome roof has already begun and will be allowed to continue.

Also Monday, it was announced that the Jim and Juli Boeheim Foundation's annual fundraiser for charity is still on for Saturday night, although it will be conducted remotely. The 21st Basket Ball Gala will be simulcast from the Boeheim home in suburban Syracuse. It will include a live auction, an appearance by the men's basketball team on a Zoom call and a surprise musical performance.

Proceeds will go to those affected the most by COVID-19, as well as cancer research and underprivileged children in the Syracuse community. The event has normally netted around $500,000 at its usual venue, Turning Stone Casino.

The Associated Press contributed to this report.