(The Center Square) – A recent report showed that Division I college sports in Colorado operated at a $51.5 million deficit with football and men's basketball at University of Colorado, Boulder being the only programs to turn a profit. 

Colorado State, Fort Collins; University of Colorado, Boulder and University of Northern Colorado generated $124.7 million in self-supporting revenue – such as ticket sales, media rights, distributions and contributions – while incurring $172 million in expenses. 

Boulder’s football team faced $25.5 million in expenses and generated $48 million in revenue leading to a $22 million profit, according to the report from the Colorado Office of the State Auditor. The school’s men’s basketball team faced $7.9 million in expenses while also generating $9.9 million in revenue leading to a $1.1 million surplus. 

Financial aid for student athletes at Division I schools – Colorado State, Fort Collins; University of Colorado, Boulder and University of Northern Colorado – reached $36,739,000 in 2022. There are 65 percent of student athletes who received financial aid with an average award totaling $40,600. There are 1,392 student athletes across these three institutions. 

Boulder boasts the highest average total cost at $50,818 followed by Colorado State University, Fort Collins at $39,097 and University of Northern Colorado at $31,778. 

Division II schools in Colorado face a larger deficit of $53.8 million as the schools had $71.2 million in expenses after bringing in $17 million in revenue.