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CU’s Athletic Department Could Be Facing Financial Problems

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(credit: CUBuffs.com)

(credit: CUBuffs.com)

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BOULDER, Colo. (CBS4) – The Daily Camera reported the University of Colorado Boulder’s athletic department may be facing some financial problems.

Athletic department finance officials told the Daily Camera they’re expecting a $7.5 million shortfall. It comes as the university is searching for a new athletic director.

Since 2006 the department has made nearly $10 million in severance payments or agreements with former employees. That includes more than $1.5 million paid to former Buffs football coach Jon Embree.

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