The University of Washington is discontinuing its men’s and women’s swimming programs, UW athletic director Scott Woodward announced today.

The move is expected to save the athletic department about $1.2 million of the $2.8 million it seeks to shed from its budget in light of “serious issues that have arisen out of the recent economic crisis,” Woodward said in statement.

"Discontinuing a sport is one of the most difficult decisions we face in college athletics,” he said.

Existing scholarships agreements will be honored and the UW will allow other schools to contact swimmers who wish to transfer. Those who decided to swim elsewhere will be eligible immediately to compete and for financial aid, according to the statement.

While the UW athletic department is self-reliant, the university is facing serious cuts across the board, which will translate to higher tuition rates for students.

That, coupled with a decreased return on the university's endowment investments, led to Woodward’s decision, he said.

“Since we are a self-sustaining operation with no funding assistance from the University or the state, [we] must find ways to reduce expenses and increase revenues in these difficult times,” Woodward said.

Of the 34 swimmers on scholarship (19 men, 15 women), 23 have eligibility remaining. Five men’s swimming teams and eight women’s teams remain in the Pac-10.

The UW also axed the swimming program in 2000 under former UW AD Barbara Hedges, who later reversed her decision following an outcry over the loss of the teams.