Iowa State’s athletics department faces a $147 million deficit through 2031, driven by the NCAA settlement’s new revenue-sharing requirements and shifting conference dynamics. Like Kansas State, Houston, and Oregon State, ISU is cutting expenses, raising donor expectations, and delaying facility upgrades just to keep pace. The deeper concern is cultural: as costs climb and revenues consolidate, non-revenue sports, community traditions, and the amateur spirit of college athletics may be sacrificed. Some schools, like UConn, are thriving through record fundraising, but many mid-tier programs may soon face existential choices that reshape the very fabric of college sports.
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