LOUISVILLE, Ky. (WDRB) -- The University of Louisville's athletic department has already heard the $20.5 million alarm clock.
In this space Monday, we looked at how college athletic departments nationwide are bracing for the financial jolt of direct athlete compensation. On Wednesday, Louisville's own University of Louisville Athletic Association is expected to approve its first budget since the NCAA's House settlement opened the door for schools to pay athletes directly.
And the numbers speak louder than any pregame hype.
According to documents from a May ULAA budget workshop, Louisville athletics is projecting a $16.9 million deficit for the coming fiscal year. But that's after the university kicks in $12.8 million in direct support — roughly $7 million more than it contributed last year.
Do the math, and it becomes clear: Without help, Louisville athletics is nearly $30 million away from breaking even, judging from the report it produced last month. And with reserves nearly depleted — down from $34.3 million in 2014 to just over $3 million in 2022 — the department is now exploring a $25 million line of credit to navigate the next few years.
A graphic from the University of Louisville's May, 2025 budget presentation shows steady draw-downs of the departments reserve funds since 2014.
How did it come to that? Buyouts. New hires. Lean years for men's basketball. COVID. It all adds up.
And now comes the new cost of competing in the NIL, pay-for-play era — with $20.5 million in athlete revenue sharing hitting the books for the first time. Louisville does expect to pay that full amount to athletes.
The department has been tightening its belt. The FY26 budget trims travel, reduces financial aid commitments, and eliminates capital spending. Still, it's not enough.
There's talk of a new student fee, which could bring in $4 to $7 million. There's hope for performance-based payouts, too — a top-25 College Football Playoff ranking would add $1.7 million and a CFP berth could bring in $8 million.
Those things would help. But, until then, Louisville is looking at the kind of red nobody particularly wants to see – on the bottom line.
Quick sips
What a great run for Murray State to the College World Series. It didn't end the way the Racers wanted — with a rare CWS no-hitter. But they made history and, for a little while, were America's team.
Mayor Craig Greenberg announced this morning on WHAS Radio that he'll hold a ceremony on campus June 28 to honor former Louisville athletics director Tom Jurich. Sources tell WDRB News a portion of Floyd Street will be renamed for Jurich. Read more about it here.
The Last Drop
"One of my wife's favorite movies is "A League of Their Own." And they said there's no crying in baseball. Well, throw that out the window. There's no way I'm making it through this right here."
Murray State coach Dan Skirka, after his team was eliminated from the College World Series
Copyright 2025 WDRB Media. All Rights Reserved.
