Colorado football reports financial success in FY2023 report
BOULDER, Colo. (BVM) – The University of Colorado Boulder has filed its annual financial report to the NCAA for fiscal year 2023.
Here’s what to know about the CU Buffaloes football program and its revenue, expenses and profits.
Note that FY2023 covers the reporting year from July 1, 2022 to June 30, 2023 – meaning these numbers are mostly indicative of the 2022 football season (not the 2023 season with Deion Sanders). However, Coach Prime was present for the latter half of this reporting year considering that he was hired to lead the Buffs in December 2022.
Revenue
Colorado’s total operating revenue for all sports in FY2023 amounted to $127,028,292 – which is a staggering $32.2 million increase from FY2022. This is the first year in history that CU Athletics has cracked the milestone $100 million revenue mark.
The total operating revenue for the football team in particular was $50.1 million ($942,865 more than FY2022). The men’s basketball team ranks behind the football program with $9.5 million in revenue.
One notable revenue-generating category is ticket sales. CU Athletics generated $15.7 million in ticket sales during FY2023 – 83% of which came from the football program at $13 million. Men’s basketball accumulated the second most in ticket sales at $2.4 million.
The football team also generated $1.5 million in revenue from game programs, novelties, parking and concession sales.
Expenses
Colorado spent $136,114,470 in FY2023 to run every sports program, but the school expensed $40 million less in FY2022 by spending just $96 million.
CU football cashed out $35 million in expenses for FY2023 – which is $9.5 million more compared to FY2022. Men’s basketball expensed the second-most this past reporting year at $8.2 million.
Football expenses have increased across several categories. For example, football’s recruiting budget went up from $770,283 in FY2022 to $983,134 in FY2023. Head and assistant football coaching salaries, benefits and bonuses increased by $2 million. Team travel (lodging, meals, air and ground travel) jumped another $382,000.
Profits
The University of Colorado Boulder’s athletics department didn’t turn out a profit for FY2023 after posting a deficit of -$9,086,178.
The football program turned out a profit of $15.1 million. The only other profitable team was men’s basketball ($1.3 million).
Nonetheless, the “Prime Effect” is now in full force in Boulder – so the next annual report in January 2025 should reveal even greater financial gains for the football program.
