Donations double — Fresno State athletics revenue spikes ahead of Pac-12 move
There undoubtedly have been questions about Fresno State and its ability to compete moving into a tougher Pac-12 Conference this July. Maybe not so much on the playing field, but with the resources that pay for staples, including recruiting, travel and nutrition that make programs grow, and go.
The Bulldogs’ annual NCAA revenue and expense report shows a promising sign with a significant reported boost in donor contributions, which more than doubled in 2025 to $11.2 million, a 106.5% increase.
That accounted for by far the largest increase from traditional athletics revenue sources — all sports ticket revenue was up to $7.2 million, a 3.4% increase, with football ticket revenue increased to $6 million, up 1.5%. Royalties and licensing revenue went up to $4.4 million, an 8.1% gain over 2024.
That helped pushed athletics revenue to $61.8 million. And, that doesn’t count an increase in student fees that went into effect in the Fall 2025 semester. The fees are expected to add $5 million a year to the athletics department budget. It also does not include an increase in conference media revenue that it will receive when jumping to the Pac-12 from the Mountain West Conference.
Fresno State also is close to finalizing a new athletics multimedia rights contract, an area the athletics department took a hit when the university signed an agreement in 2022 to change the name of its football stadium to Valley Children’s Stadium, receiving considerably less in annual guaranteed rights fees.
Rebranded fundraising efforts
The athletics department rebranded its fundraising efforts last summer with the Valley Co-Op, which athletics director Garrett Klassy said would resonate better with donors in an era of college athletics that includes revenue sharing and Name Image and Likeness payments to student-athletes.
“Anyone who has been in private business will tell you if you think like your competitors you’re never going to get ahead. I just think the message has to be different,” Klassy said, last July.
The Pac-12 has announced media rights deals for football and basketball that run through 2030-31 with CBS Sports, The CW and USA Network, but not a total value to its membership.
The $61.8 million in athletics operating revenue in the university’s 2025 report to the NCAA, which was obtained by The Fresno Bee through a public records request, also includes a decrease in direct institutional support, which was cut to $17.6 million from $19.7 million.
Bulldogs behind, but numbers promising
The increased revenue numbers are promising for Fresno State, which is well behind some of the other schools that on July 1 will officially join the Pac-12.
The NCAA revenue and expense report, under contributions, includes cash and marketable securities received from individuals, corporations, associations or other organizations designed for the operations of the athletics program, and funds from outside contributors for the payment of debt service, lease payments or rental fees.
Athletics departments are not allowed to count pledges until those funds are provided or donations that are to be used in other reporting years.
One interesting add to the report in 2025: The first line under school info at the top of a lengthy document states, ‘We agree to release the institution’s data to the conference:’ That typically would be an automatic, ‘Yes.’ But with Fresno State leaving the Mountain West, it answered, ‘NO.’
There is room for continued growth. Fresno State, in one example, received $3.6 million in donations to its football program. That was a 63.1% increase over 2024. But others headed to the new Pac-12 including San Diego State ($8.6 million) and Boise State ($5.7 million) were well ahead of the Bulldogs in the past fiscal year.
San Diego State reported $91.4 million and Boise State $68.4 million in total athletics operating revenue in 2024.
This story was originally published January 23, 2026 at 11:42 AM with the headline "Donations double — Fresno State athletics revenue spikes ahead of Pac-12 move."