CP website yesterday.

"Cal Poly Athletics announced today that Cal Poly’s men’s and women’s swimming and diving programs will be discontinued effective immediately. While this is disappointing news to share, the financial realities made the decision unavoidable."

Release goes on yo note loss of $450k per year (about half of what LBSU Athletics has saod they've been losing annually) and further mentions another anticipated expense coming with the student-athlete lawsuit settlement still to come.