Everybody in college sports keeps talking about rising costs and money problems. But good news for Deion Sanders and the rest of Colorado sports. While several Big 12 programs are stressing over budgets, private capital offers, and future debt, the Buffs somehow managed to increase their revenue by $14 million. The latest EADA revenue figures shared by analyst Jeff Fuller painted that picture. 

This extra $14 million did not appear out of thin air; it is the magic of Coach Prime. By packing the stadium every weekend and selling mountains of black-and-gold gear, he turned simple football games into national television events. It proves that bringing in a superstar leader can immediately fill up the cash register.

Colorado jumped from $147 million to $161.7 million in total revenue for fiscal year 2025, one of the conference’s biggest upward swings. Meanwhile, schools like Kansas, Baylor, Arizona, and Kansas State saw their cash flow slow down over the last fiscal year. Even with less money coming in, these programs still chose to walk away from the quick loan money offered by the conference later on. The drop in cash happened first, but rather than panic, they played it safe. Taking a fast loan seemed too dangerous for their future earnings.

What makes Colorado’s situation interesting is that it still turned down the Big 12’s new $30 million credit offer from RedBird Capital and Weatherford Capital. You’d think the Buffs would be one of the first schools to take that money. CU’s athletic department reportedly needed $43.5 million in school support just to help cover nearly $162 million in expenses.

Still, Colorado’s pockets are not bottomless. Looking ahead, the school faces a $27 million shortfall. Between paying Coach Prime his massive salary and keeping up with new player-sharing rules, daily expenses are piling up fast. Taking a quick loan from a wealthy firm looks easy, but giving up tomorrow’s harvest to pay for today’s seeds is a dangerous trap.

Colorado turning down the deal also shows that many schools are nervous about private capital right now. The offer reportedly came with an interest rate close to 10%, and the repayment would come from future conference TV money. That means schools would be using tomorrow’s earnings to handle today’s expenses. 

“CU Boulder is not opting in to the capital credit line included in the agreement, and we look forward to learning more about the opportunities contained in this new partnership that can benefit CU Boulder Athletics and our student-athletes,” Colorado said in a statement. 

Colorado wasn’t alone in backing away, either. Kansas State, Arizona, and Baylor were among the schools connected to financial regression or hesitation surrounding the private capital conversation. Kansas, despite still leading the Big 12 in overall revenue at $173.7 million, fell sharply from the previous year’s $215 million mark.

Kansas’ earlier numbers were inflated by massive stadium and donor activity. Fuller even described the current dip as the school “coming back down to earth.” Meanwhile, Kansas State dropped from $106 million to $103 million, Baylor from $148 million to $144.1 million, and Arizona from $139 million to $132.7 million. 

Why the Big 12 is rejecting the $30M credit line 

The Big 12’s overall partnership with RedBird and Weatherford still carries long-term potential. The conference office itself receives a $12.5 million investment through the arrangement. RedBird’s connections expand into major entertainment and sports properties, including Paramount Global. Weatherford also has ties to IMG Academy, one of the biggest recruiting pipelines in America.

So this isn’t some reckless move by the conference office. But the hesitation from schools tells you administrators remain deeply uncertain about the future of college sports. That uncertainty showed up in retired Stanford economics professor Roger Noll’s warning to USA TODAY Sports. 

“If there is an investment to be made that will increase income in each year in the future, debt can work like a mortgage,” he said. “Smooth a big capital cost over the years in which it will generate more income than its annual cost. But if the problem is deficits as far as the eye can see with no prospect for investing to increase future income, then accepting debt today postpones the comeuppance but in the long run just makes it worse.” 

So while Colorado’s $14 million jump looks impressive today, the Buffs are also operating inside the same unstable system everyone else is trying to survive. The difference is that they currently believe its brand momentum is valuable enough to avoid borrowing against the future.