Overview
- Lovo, 37, officially started Jan. 1 and was introduced Monday, succeeding Rick George, who remains through the school year in an AD emeritus and advisory role.
- His five-year contract pays $1.2 million annually with incentives that include $200,000 for raising $25 million by June 30, a $50,000 bonus if Folsom Field averages at least 47,000 fans, and $25,000 for each national championship won by a CU team.
- Colorado projects a $27 million shortfall this fiscal year, with reporting tying the gap to $20.5 million in athlete revenue sharing and a richer contract for football coach Deion Sanders.
- Lovo said he aims to leverage Sanders’ national profile to expand Colorado’s reach and will prioritize donor engagement to generate new revenue.
- Before Colorado, Lovo ran New Mexico’s department, hiring football coach Jason Eck, who delivered a nine-win season and a bowl bid, and men’s basketball coach Eric Olen, whose team opened strongly.