(AMES, Iowa) — Iowa State University’s Athletic Department is hitting the brakes on two major facility upgrades as it faces a projected $147 million budget deficit through 2031.
According to a financial report submitted ahead of the Iowa Board of Regents’ July 30 meeting, the department is facing an average annual shortfall of nearly $25 million. In response, ISU athletics officials have decided to indefinitely postpone both a planned $20 million wrestling practice facility and a $25 million renovation of Hilton Coliseum.
To help address the financial gap, the department will begin passing the cost of sales tax on ticket purchases directly to consumers and raise annual donation requirements for Cyclone Club members by 20%. Additionally, all ISU sports programs will implement cost-cutting measures to rein in spending.
The fiscal year 2026 report links the shortfall to “several transformational changes,” including the expansion of the Big 12 Conference from 10 to 16 teams and the financial implications of the House v. NCAA settlement, which permits schools to share $20.5 million annually with student-athletes.
The department says it is working closely with the Big 12, the ISU Foundation, sponsors, donors, and other partners to explore new revenue opportunities to help close the funding gap and maintain the long-term strength of ISU Athletics.
