http://aol.sportingnews.com/ncaa-foo...ig-12-to-pac-1
Colorado’s athletic department received a $10 million loan from the school and Colorado University system to cover a budget shortfall created with the CU’s move to the Pac-12, The (Boulder) Daily Camera reported.
Why the shortfall? The school lost $7 million as penalty for leaving the Big 12, and the school’s Pac-12 revenue faucet won’t be fully turned on until this year. In all, there was a $16 million deficit, but $6 million was covered by gifts to the school.