Cal released official financial documents Friday that confirm a massive budget deficit and dire outlook for the Bears’ 30-sport athletic model. Related Articles Cal athletics’ $20 million question: Will sports need to be axed?

Cal stadium plan financially flawed

The athletic department lost $21.7 million in the 2016 fiscal year, according to a statement of revenues and expenses submitted to the NCAA.

The deficit matches projections outlined months ago by this newspaper and was covered by central campus, which itself is running a $110 million budget shortfall.

The athletic department’s fiscal woes are rooted in the debt service payment on the Memorial Stadium and Simpson Training Center projects, which cost approximately $460 million (combined).

The Bears generated $86.3 million in revenue from continuing operations against $88.1 million in expenses. But the interest payment on the debt service was $18.5 million. (There were minor additional costs for capital projects.)

That interest payment will remain steady until 2032, when the principal kicks in and annual payments soar — first to $30 million and eventually to almost $40 million.

Cal chancellor Nicholas Dirks has formed a task force to recommend a sustainable athletic model. The group is likely months away from issuing its conclusions, but the elimination of sports teams is a potential, if not likely, outcome.

The projections for the 2017 fiscal year are nearly as dire: An $18.8 million loss.