AMES, Iowa — Iowa State University is increasing ticket prices due to a projected $147 million budget deficit by the end of FY2031.

Iowa State University said in a statement that, “Maintaining a nationally recognized, competitive athletics program is essential to Iowa State University and economically important to the state of Iowa. The university is working diligently with the Board of Regents, Big 12 Conference, ISU Foundation, sponsors, donors and supporters to ensure that Cyclone Athletics remains viable in today’s changing intercollegiate athletics landscape.”

The Big 12 Conference realignment as well as changes to the College Football Playoff revenue distribution model and the House settlement for revenue sharing with student-athletes have contributed to a projected $24.5 million shortfall for fiscal year 2026. However, the athletic department said it’s able to cover this shortfall with its cash reserves thanks to its prudent fiscal management over the years.

Without new revenue and the implementation of mitigation steps, the cumulative budget gap could increase to $147 million at the end of FY2031. The athletic department is already making changes to reduce the likelihood of this outcome. For example, the department increased annual Cyclone Club donation levels, stopped absorbing sales tax on ticket sales and initiated cost reduction mandates for all sports. Additionally, the athletic department is working with the conference, its sponsors, and others, to increase and create new streams of revenue.

“These are challenging times, but the university remains confident and optimistic that through a coordinated effort, a solution to address the currently projected budget shortfall will be implemented and Cyclones Athletics will continue to thrive.”

Loren Yarrow, an Iowa State student, said he thinks increased ticket prices hurt fans.

“As a fan, like it kind of out prices, like the actual fans will have money, who’s going to show up to those kind of things? Who maybe they’re kind of interest in sports. It’s not as invested as some of the real fans out here can no longer afford it, so it just makes things a little harder,” Yarrow said.

Ellie Albertoni, an Iowa State student, said that she thinks paying players shouldn’t impact fans.

“I think it’s great that we should try to pay our athletes more and compensate them, but at the same time it shouldn’t be taken out of the fans pockets. It’s kind of just frustrating in that aspect,” Ablertoni said.

The State Board of Regents will consider the cost cutting plans at their next meeting Wednesday July 30.