The University of Colorado athletic department expects to run a $27 million deficit during the current fiscal year ending in June 2026, in addition to needing $11.9 million in institutional support from the university and $2.2 million from student fees, according to budget figures obtained by USA TODAY Sports.
As reported by USA TODAY's Brent Schrotenboer, the athletic department is hoping to reduce the unprecedented deficit by the end of June with revenue from donations, sponsorships and concerts at Folsom Field. More than $41 million could be needed in subsidies from the university, including the institutional support and student fees.
According to Schrotenboer, the deficit news comes at a critical time:
- Athletic director Rick George announced recently he’s stepping down at the end of the fiscal year in June.
- Colorado nearly doubled the pay of football coach Deion Sanders in March, giving him a new five-year contract worth more than $10 million annually. His team finished 3-9 in 2025, and attendance has waned since 2023, when games were selling out during Sanders' first season in Boulder.
- Like other major college sports programs, Colorado is committed to providing players with up to $20.5 million in annual benefits and direct payments under terms of the NCAA-House legal settlement. That cost is new this year, with the $20.5 million cap going up by 4% next year and the year after.
The projected revenue for fiscal year 2026 is $136.7 million with $163.7 million in expenses, per Schrotenboer's reporting.
The department is still finalizing its numbers for fiscal year 2025, which ended in June 2025, but said it expects a “balanced” budget of $141 million in revenues and expenses for that year, including $24 million in institutional support revenue from the Boulder campus and the university’s president’s office.
The school said it will “not cut sports nor cut any resources for student-athletes” but will look to cut expenses.
