Beginning July 1, the three highest paid coaches at South Carolina will take a voluntary pay cut in an effort to help offset the school's financial losses due to the pandemic.

Head football coach Will Muschamp and head basketball coaches Frank Martin will take a 10 percent pay reduction along with school president Bob Caslen and athletics director Ray Tanner. The salary reductions are expected to save a little more than $1.2 million for the next fiscal year.

“The global health crisis will continue to have a significant impact on the university, and I applaud our university officials and coaches for their willingness to personally contribute to our institution’s financial health,” Caslen said in a statement. 

"From the very beginning of the pandemic, our leadership team has responded with tremendous professionalism and a singular determination to help the university navigate through this unprecedented challenge. I thank them for their deep commitment to our students and our mission.”

Muschamp was on a Knoxville radio station commented on his pay cut.

"It's the right thing to do," Muschamp said.

"It's what is best for our institution and what is best for our state. I know what we're going through, hopefully it's not going to be as bad as we think it's going to be, but a financial crisis here on campus, not just in the athletic department, but the entire university and our state. It's the right thing to do." 

The University also announced other measures to help shore up its finances including delaying construction projects, deferring “non-critical maintenance,” only hiring for “mission critical” positions and eliminating university-funded travel.