• Loading stock data...
Tuesday, July 8, 2025

Colorado Athletic Department Suffers $9.9M Budget Deficit Pre-Prime

  • Football coach payouts and Pac-12 media fumblings led to the loss.
  • Sanders’s football team saw increased revenue, and the No. 4 women’s basketball team had record attendance, with fortunes expected to reverse.
Colorado
Ron Chenoy-USA TODAY Sports

The University of Colorado athletic department recorded a deficit of nearly $9.9 million in the 2022–2023 school year, according to numbers supplied by the university to Front Office Sports.

A recent NCAA financial report from fiscal year 2023 shows the department lost just over $9 million. However, different accounting definitions between the NCAA and the university mean the real number (provided by CU to FOS) was closer to $10 million. One contribution to that difference is the fundraising group called the Buff Club, which isn’t part of the athletic department but operates to support it, Cory Hilliard, the school’s senior associate athletic director for business, tells FOS. The NCAA included the Buff Club’s revenues and expenses in its report to keep things consistent between schools, he says.

It might be hard to remember this version of Colorado, back before Deion Sanders rejuvenated the football program and brought the national spotlight to Boulder. The university fired head football coach Karl Dorrell with about $8.7 million left on his contract, which it still pays through December 2024, plus some of his assistant coaches.

Remembering this version of the Pac-12 might be hard before nearly every school, including Colorado, jumped ship for another conference. Member schools lost about $6 million each while the conference paid back a debt to Comcast.

The department spent about $7.3 million on severance payouts, per the NCAA report, most of which went to Dorrell, Hilliard said. Total expenses were around $127 million, while total revenue came in around $117 million, according to Hilliard. Meanwhile, the NCAA report lists expenses at $136 million and revenues at $127 million.

Despite the loss, things are looking up for the Buffs. Fiscal year 2024 has seen more revenue for Sanders’s football team, which is set to receive a new video board in its stadium and record-breaking attendance for its No. 4 women’s basketball team. And next year, Big 12 payouts will kick in.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Breanna Stewart

WNBA Players Call League Proposal For Fixed Salary Cap Inadequate  

The league’s collective bargaining agreement expires in less than four months.
Louis, Missouri, UNITED STATES; Penn State Nittany Lions forward Nicholas DeGraves (17) celebrates with teammates after scoring a goal against the Boston University Terriers during the third period of the Frozen Four college ice hockey national semifinals at Enterprise Center

Gavin McKenna’s Penn State Commitment Cements College Hockey Supremacy

Gavin McKenna’s Penn State decision signals hockey’s rising stars now prefer NCAA.
Jul 6, 2025; Houston, Texas, USA; Mexico forward Marcel Ruiz (14) heads the ball in front of United States midfielder Brenden Aaronson (11) in the second half during the 2025 Gold Cup Final at NRG Stadium.

USMNT Struggles Still Produce Big Gold Cup Ratings for Fox

The U.S. team’s recent issues culminated in a loss to Mexico.
Sports are shown on TVs behind a bar as guests enjoy the grand opening of DraftKings Sports & Social in Ohio.

California Has Declared Daily Fantasy Sports Are Illegal. Now What?

The opinion might spark a broader DFS conversation in the state.

Featured Today

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
A helmt is seen during the Texas Tech football team's spring game, Saturday, April 19, 2025, at Jones AT&T Stadium.

CFB’s Revenue-Sharing Era Muddles Future of NIL, Adds PE Questions

Athletic departments can pay college athletes a combined $20.5 million this year.
July 6, 2025

Revenue-Sharing Chaos Begins as Texas Tech Secures Five-Star OT

The Red Raiders spent more than $10 million in the winter transfer portal.
Nov 30, 2024; Lubbock, Texas, USA; Texas Tech Red Raiders running back Tahj Brooks (28) runs the ball against West Virginia Mountaineers defensive back Anthony Wilson Jr. (12) in the second half at Jones AT&T Stadium and Cody Campbell Field.
July 7, 2025

Felix Ojo’s Agent Says Texas Tech Offered $5.1M At Start of Rev-Share..

Texas Tech secured Ojo with a seven-figure NIL commitment.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
July 3, 2025

Everything You Need to Know About EA’s Return to College Basketball Video..

There hasn’t been a college basketball game in more than 15 years.
Ohio State
July 1, 2025

Collectives Funnel $20 Million to College Athletes on Last Day Before Revenue..

Collectives frontloaded payments just before the revenue sharing era begins July 1.
July 1, 2025

Big Ten Commish Still Pushes for 4 Auto CFP Bids in 16-Team..

The conference wants four guaranteed spots in the Playoff.
June 30, 2025

College Sports Revenue-Sharing Underway As More Changes Loom

July 1 marks the first day schools can directly pay players.