July 24, 2025
Iowa State University Athletics — facing a $147 million budget deficit through 2031, or just under $25 million annually over the next six years — is rolling out painful concessions, including indefinitely postponing construction of a new wrestling practice facility and a $25 million Hilton Coliseum renovation.
“In the past two years, there have been several transformational changes in college athletics that will result in $30 million in recurring annual financial repercussions to the athletics department beginning this year,” ISU athletics reported in its 2026 budget report to the Board of Regents, made public this week.
Although it has identified about $8.7 million in annual budget savings, the $24.5 million annual funding gap is expected to culminate in a $147 million net deficit by 2031 — putting the Cyclones in an all-hands-on-deck situation.