MALIBU, Calif. (AP) — Pepperdine University will drop its men's varsity track program this year, while women's swimming and diving will get a one-year reprieve before being disbanded after the 2009-10 school year.

The cuts are the result of the slumping economy and a need to reduce the private university's budget. Women's swimming and diving initially was going to be dropped this year, but enough outside money has been offered to allow the program to compete for one more season.

"This additional year will also allow current student-athletes and the incoming recruiting class to explore all of their options if they choose to transfer to other programs over the next year," Pepperdine athletics director John Watson said in a recent statement.

Watson said each of Pepperdine's sports was reviewed, taking into account conference membership, level of competition and financial impact to the university, whose undergraduate enrollment is less than 3,000.

The school will sponsor 15 varsity sports in 2009-10, with seven men's teams and eight women's teams.

Neither women's swimming nor men's track is part of Pepperdine's primary conference affiliations, the West Coast Conference and the Mountain Pacific Sports Federation.

The women's swimming program competes in the Pacific Collegiate Swimming & Diving Conference, an affiliation of NCAA and NAIA programs on the West Coast. Pepperdine's men's track team competes as an independent. The women's track team is not affected by the cuts.

Men's track had a successful history at Pepperdine from the 1930s to the early 1970s, but the program was disbanded when the university moved to its Malibu campus in 1972. Men's track was reinstated for the 2008 spring season as an extension of the men's cross country program, with its runners only competing in distance events.

Watson said he is grateful that donations will allow women's swimming to continue for another season.

"I also do not want to build false hopes. There is no university funding available to continue the program beyond the 2009-2010 academic year," he said. "While the long-term decision will still disappoint many, I want to thank those that have or will commit to the funding for one final season."

Pepperdine will honor existing scholarships with its swimmers and divers through the rest of their eligibility, and provide help to athletes who want to transfer.

The Waves have won nine NCAA championships in five different men's sports.