The ultimate truism of college athletics, always true but especially so in 2026, is that it's expensive to be good but even more expensive to be bad.
That was laid out in a recent presentation from Louisville athletics to the universities board of trustees. "If we don't have talent on the field or the basketball court โฆ we have no opportunity at all to increase our revenue streams," AD Josh Heird said, via WDRB. "If you stop spending now, you lose."
That quote came as Heird and his staff laid out a $30 million budget shortfall. Last year, a $25 million shortfall was eradicated by a $10 million transfer from the university's general fund, a new fee for students, and a $25 million line of credit to be split over two years. The transfer from the university will not happen again, president Gerry Bradley said.
U of L leaders described rising costs outside of the House settlement that now costs more than $21 million per year, which is only expected to rise in the coming years.
The general plan to budget neutrality, as described by WDRB? Continue borrowing money in the short term, cut costs where you can, and get Cardinal Ventures, a non-profit established last month to find new revenue streams, up and running.
Louisville fancies itself a blue-blood in basketball and an annual ACC championship contender in football. Its volleyball program was in the national title match two seasons ago. Those programs play in standalone, professional-level venues, both built within the last 30 years.
It's now trying to figure out how to pay for it all on the fly, without access to the university's credit card.
And so is everyone else Louisville is competing with.