The University of Colorado saw a significant jump in multimedia rights revenue since the hiring of head football coach Deion Sanders.
According to Sportico, Learfield, which manages the money generated from sponsorships, radio advertisements, digital signage and other commercial opportunities, is projecting revenue of $8.3 million in fiscal 2024. That includes Sanders' first football season as the coach of the Buffs.
That number is up from $5.5 million in fiscal 2023, marking a 51 percent year-over-year increase.
Colorado's contract with Learfield stipulates that the school receives 60 percent of the first $5 million of adjusted gross revenue, and 65 percent over that $5 million.
Sportico reports that last year, there was no AGR over $5 million and Colorado pocketed $2.9 million in rights fees. This year, the total AGR is $7.2 million, so Colorado will see a chunk of money at the higher 65% share. CU is currently projected to receive $4.5 million under the agreement in fiscal 2024, though not all the money has been collected.
Given Coach Prime's high-profile spot in college football, Learfield was able to generate more interest in advertising around Colorado's games and other content. Fox and ESPN sent competing pre-game shows to Boulder early in the year, TV ratings soared, and Colorado sold out every home game for the first time in the football program’s history.
Colorado has extended its Learfield contract for 10 more years, and starting in 2025, the school will receive 65 percent of the first $10 million of AGR, then 70 percent of anything that. There are also guaranteed minimums, which start at $4 million in year one and rise to $5.35 million by fiscal 2035.
