In fiscal year 2025, New Mexico State University (NMSU)'s Football program reported $7.1M in revenue and $12.2M in expenses, for a net deficit of $5.0M. The program generated $7.1M in total revenue, led by Guarantees at $2.3M. Among the 78 FBS programs reporting Football data, New Mexico State University ranks 65th overall in total expenses (23rd of 36 Group of Five programs) — below the FBS average of $36.5M. New Mexico State University competes in the C-USA; financial data is available from FY2010 through FY2025.
| Category | Amount |
|---|---|
| Guarantees | $2,250,000 |
| Direct Institutional Support | $2,128,194 |
| Conference Distributions of Football Bowl Generated Revenue | $1,547,812 |
| Ticket Sales | $942,296 |
| In-Kind | $131,712 |
| Contributions | $120,200 |
| Sports Camp Revenues | $16,765 |
| Athletics Restricted Endowment and Investments Income | $6,973 |
| Category | Amount |
|---|---|
| Athletic Student Aid | $3,475,563 |
| Coaching Salaries, Benefits and Bonuses paid by the University and Related Entities | $2,918,152 |
| Team Travel | $1,470,074 |
| Support Staff/Administrative Compensation, Benefits and Bonuses paid by the University and Related Entities | $829,619 |
| Game Expenses | $674,031 |
| Student-Athlete Meals (non-travel) | $616,564 |
| Sports Equipment, Uniforms and Supplies | $610,161 |
| Recruiting | $424,276 |
| Other Operating Expenses | $412,827 |
| Guarantees | $385,000 |
| Direct Overhead and Administrative Expenses | $327,378 |
| Sports Camp Expenses | $10,679 |
| Fund Raising, Marketing and Promotion | $9,550 |
| Medical Expenses and Insurance | $6,614 |
| Memberships and Dues | $2,175 |
| Fiscal Year | Revenue | Expenses | Net |
|---|---|---|---|
| FY2025 | $7,143,952 | $12,172,663 | -$5.0M |
| FY2024 | $7,717,830 | $13,318,607 | -$5.6M |
| FY2023 | $6,810,423 | $14,283,823 | -$7.5M |
| FY2022 | $6,927,744 | $10,777,169 | -$3.8M |
| FY2021 | $4,922,542 | $6,579,481 | -$1.7M |
| FY2020 | $7,332,462 | $9,266,793 | -$1.9M |
Football operations at New Mexico State generated $7.1M in revenue against $12.2M in expenses in FY2025, producing a $5.0M deficit with guarantees ($2.3M) and athletic student aid ($3.5M) serving as the largest revenue source and expense, respectively. At $12.2M, the program's total expenses rank 65th among 78 FBS programs and sit well below the FBS average of $36.5M, reflecting the program's smaller financial footprint as a Conference USA member. Expenses have trended downward over the past two years after peaking at $14.3M in FY2023, though they remain elevated compared
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