Lovo calls CU a ‘destination job’ now he has to earn his paycheck

In his introductory news conference as athletic director of the Colorado Buffaloes, Fernando Lovo didn’t talk much about Deion Sanders, but he made it clear he’s got Coach Prime’s back.

“I can’t wait to stand in Folsom Field and see Ralphie run for the first time,” Lovo said. “Coach Prime, I’m coming out right behind you, baby. We’re going. OK?”

The Buffs poached Lovo from the University of New Mexico over the holidays. In his one year as director of athletics, the Lobos won eight Mountain West titles across various sports while Lovo proved his rising star. He made an excellent football hire in Jason Eck, who nearly took that afterthought program into the conference championship game in his first year. Lovo also saw Richard Pitino’s hoopers make a run to the second round of the NCAA tournament after winning their conference. He had to then replace Pitino with Eric Olen, who has the Lobos off to a good start in his first season.

The 37-year-old has a tall task in Boulder and one that’s very transparent: Address the projected $27 million deficit for the current fiscal year ending June 30, 2026.

Lovo’s five-year contract, which will pay him $1.2 million per year has a clear incentive from the start: he gets a $200,000 bonus if he can fundraise $25 million in donations by that same date.

“The critical piece right now, I think first and foremost, is generating more revenue, and I think that’s something that we’re going to be really, really aggressive in,” Lovo told BuffZone.

The highest-paid AD in CU history will be working alongside Rick George for the rest of the school year before he moves on to an advisor role. CU paid a nearly $800,000 buyout at New Mexico for Lovo and hopes are high.

“We talk often about college athletics being the front porch of the university, and you know, in today’s era, there’s a camera and a microphone at every front door watching every front porch,” Colorado Chancellor Justin Schwartz said. “So it’s an integral part of who we are. It’s a critical part of the experience of all of our students, not just the student-athletes… It’s important that we’re lockstep.”

Colorado has committed in the past to not cutting one of their limited 15 sports. The Buffaloes, like all schools, are facing a $20.5 million expense this year for revenue sharing with players. But on top of that CU also has to pay for Sanders, whom they recently made a $10 million a year man for the next five years. Though in his first year under that new deal, Coach Prime led the Buffs to a 3-9 record, dropping attendance and viewership of Buffs games.

So it’s all about dollars to start for Lovo, even if he says he is going to put student athletes first and his first priority is listening.

But what about Lovo as a person?

“This is a destination job. First and foremost, this is an unbelievable academic institution with an iconic brand that’s recognized nationally and globally,” Lovo said. “Opportunities like this don’t come around often. When you factor in the alignment of leadership — from the Regents to the President to the Chancellor — and the chance to follow an incredible leader in Rick George, this was a perfect opportunity for my family and me. Boulder is breathtaking, and the people here are special. We’re excited to get to work and build on the foundation already in place.”

Lovo could be here for the long haul after jumping his way through the pro and college ranks — but he’ll only get a chance to stay if he can prove to pay for the ever-increasing price of high-quality college athletics.

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