BOISE, ID (CBS2) — Boise State University’s athletic department is facing a deficit of up to $18 million this year, a figure the university confirmed today as it looks for ways to stabilize its finances amid major changes in college sports.
The shortfall is being driven by a combination of revenue sharing and cost penalties associated with Boise State’s move to the Pac-12.
The Idaho State Board of Education addressed the deficit and approved Boise State’s request for an accumulated deficit plan not to exceed $18 million through next year.
We indicated at the August meeting that as we look at the impacts of the revenue share… we’ve taken action in the last fiscal year as to how we can accumulate revenues in order to accommodate a reasonable amount of revenue share as we go into this new age of college athletics,” said Boise State interim CFO Stacy Pearson.
Boise State officials said they recognize the situation is unsustainable moving forward and are working to identify additional revenue sources to offset the deficit and eliminate it…