Indiana University's athletics department says tens of millions of dollars in assistance from the university are loans.
The university provided athletics $31.5 million in “direct assistance” in 2024 and $25 million in 2025, according to IU’s NCAA financial disclosures obtained through a public records request. Despite the university's assistance, athletics reported a $10 million surplus.
When WFIU/WTIU News asked about the assistance, spokesperson Jeremy Gray responded with a statement:
“The NCAA’s recent report represents a moment in time and does not reflect the full financial picture of the IU Athletic Department. IU Athletics received a bridge loan from the university, which will be paid back over time, to address non-budgeted expenses, including a coaching transition within IU men’s basketball.”
The last two fiscal years saw coaching turnovers for football and basketball respectively.
In 2024, IU bought out football coach Curt Cignetti’s contract from James Madison for $1.2 million and paid $22.1 million in severance for coaches across athletics, including $15.5 million to outgoing football coach Tom Allen.
In 2025, IU hired Darian DeVries as head basketball coach, paying his former school, West Virginia, a $6.15 million buyout. IU also paid $8.5 in severance for its outgoing coaches.
The terms of the loan and the source of the funds have not yet been released.
