AMES, Iowa (KCRG) – Iowa State University Athletics is facing significant budget cuts, including postponing major renovation projects. The budget cuts are due to a $147M budget deficit through the year 2031. That averages 24.5M dollars a year.

The athletics budget cuts are as follows:

• The $25M Hilton Coliseum renovation is postponed.
• The $20M wrestling practice facility construction is postponed.
• Initiated cost reduction mandates in all sports to slow the growth of overall expenses.
• Passing on the annual cost of sale tax on ticket sales to consumers.

The changes come from struggles including the House vs. NCAA settlement. Schools can now share up to $20.5M per year with their athletes. The Big 12’s realignment of ten to sixteen teams negatively impacted the conference for their distribution model for revenue. Full details can be found here.