Division II Malone University announced Friday that it has dropped its football program.

The university is located in Canton, Ohio, and it competed in the GMAC (Great Midwest Athletic Conference).

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Dropping the program had everything to do with the university saving $1 million annually as part of a campus-wide restructuring as it fights to eliminate a $2.5 million deficit over the next two years.

“I’ve got 75 kids looking for a home, and I’ve got coaches looking for jobs,” said head coach Fred Thomas, via CantonRep.com, who coached the Pioneers for three seasons after one season as an assistant. He told the team during a meeting.

Malone President Dr. David King said dropping the football program was “by far the most difficult decision I’ve had to make” during his career.

The university will honor athletic scholarships of current football players who choose to stay at the school, per the report.

“Malone is allowing me to honor all scholarships and to keep all of the kids financially stable,” said Charlie Grimes, director of athletics. “Our first commitment is to their graduation and academic success.”

The university originally started its program in 1993.

The university announced the news the same day the SEC announced a record revenue and distribution to its member institutions.