The financial update athletics director Jen Cohen and chief financial officer Kate Cullen will present to the University of Washington’s board of regents on Thursday does not resemble the original best-case scenario.

That scenario — featuring a full football season with fan attendance in the fall, outlined in a similar budget meeting in May — has been buried under a barrage of testing issues, long-term cardiac concerns and rising coronavirus cases. As a result, Pac-12 sports have been postponed through the end of the year and its athletics departments are facing an uncertain financial future.

All of which will be outlined in detail on Thursday, beginning with the opening paragraph of a document prepared to accompany the presentation:   

The updated FY21 budget included here reflects the following assumptions, as well as actions taken by ICA, which resulted from that decision:

  • A truncated football season in winter/spring;
  • Unlikely to have
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Summary List Placement

  • Tech stocks sold off sharply last week but a chief strategist doesn’t think things will go much further south.
  • Jonathan Bell of Stanhope Capital, said: “I would be saying to people that this is a bubble-type territory, but it doesn’t mean that it is going to deflate now. 
  • All US stock indices closed lower on Friday for a consecutive session driven by the tech-sell off.
  • Bell said investors should trim holdings in big tech stocks and not be overly allocated. 
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Tech stocks are definitely in a bubble, based on the sizzling rally so far in 2020, but it will take a while to burst, a chief strategist said. 

Jonathan Bell, chief investment officer at Stanhope Capital told CNBC’s “Street Signs Europe” Monday: “I think we are certainly in bubble territory.” 

Bell’s comments come days after a sell-off

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