Colorado’s trip to the 2024 Alamo Bowl resulted in a loss of approximately $1.24 million, as revealed by an internal audit. Key issues included overpayment of coach Deion Sanders and his assistants, misclassification of the bowl's tier status, and lack of a proper budget to control expenditures. The Buffaloes incurred around $4.21 million in expenses while generating only $2.97 million in revenue during their 36-14 loss to BYU. The audit emphasized significant improvements in governance and financial controls are needed for future postseason events.

By the Numbers
  • Colorado spent $945,053 to send 210 band and spirit members to the game, exceeding Tier 2 limits and costing an extra $746,512.
  • The audit estimates that adhering to Tier 2 guidelines would have reduced expenses to roughly $3.38 million, lowering the net loss to $409,535.
State of Play
  • CU reported inconsistent application of policies and inadequate financial oversight in past bowl appearances.
  • Only three bowl trips have been made in 18 seasons, all at the Alamo Bowl.
What's Next

CU plans to implement the audit's recommendations starting in August to improve budgeting and oversight for future bowl games. This includes refining processes and ensuring compliance with financial guidelines.

Bottom Line

To ensure financial viability in future bowl appearances, CU must adopt robust governance and budget practices, reflecting best practices to avoid major losses like those from the Alamo Bowl.