The University of Colorado is $27 million in the hole. That is the deficit the athletic department is staring at for the fiscal year ending June 2026, the biggest in school history per USA TODAY. New AD Fernando Lovo just got here, and he already has a plan.

The new AD reportedly wants naming rights deals for Folsom Field and the CU Events Center.

"Lovo confirmed he has been part of naming rights talks for Folsom Field, which has never had a sponsor," On3's Nick Schultz wrote. "The CU Events Center previously had an agreement with Coors, but that partnership ended in 2018."

This deficit can broadly be attributed to two reasons. Colorado is committed to paying players up to $20.5 million a year under the NCAA House settlement. Secondly, Deion Sanders signed a five-year extension in March at about $10 million a year.

Those two costs alone account for most of the projected gap. The department projects $136.7 million in revenue against $163.7 million in expenses for fiscal 2026. Football alone accounts for $60.4 million of that spending.

Lovo is not panicking, but he is moving fast. He told The Daily Camera's Brian Howell where Colorado stands on all of it, per On3.

"That's a big priority for me. We look at our market, we look at our brand," Lovo further revealed. "We have an incredible brand here, but you also factor in Coach Prime and our other coaches, and we're one of the most-watched teams in our conference and nationally. So we have a lot to sell."

But more than just handling the deficiency, Lovo wants to ensure that the process is smooth.

Lovo Says Colorado Has to Move Fast and Move Smart

Despite going 3-9 in 2025, Colorado still appeared in the top 10 most-watched game seven of 14 weeks during the regular season, per TV ratings data compiled by On3. That audience is the product Lovo is selling to potential naming rights partners.

But he is not willing to rush into the wrong deal just to plug the gap.

"We've got to make sure it's the right partner," Lovo said, "We're going to be diligent about that. We're not going to be reckless in the way that we approach it. But we have to capitalize on that."

Donations, sponsorships, and concerts at Folsom Field are also part of the plan.

Landing the right partner for Folsom Field is a statement. It tells sponsors that Colorado is still a product worth buying into, even after going 3-9, because the program still draws massive national audiences.

That is what Lovo is betting on, and he needs it to work fast.

What do you think about Colorado's naming rights push amid their $27 million deficit? Let us know in the comments.

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Written by

Farheen Fathima

Edited by

Aadesh Dhote