The Board of Regents approved a deal Monday morning that would make Fernando Lovo the new athletic director, inking a five-year deal that will pay him roughly $1.2 million including incentives.
Lovo will be taking over for Rick George who has been the athletic director at Colorado since 2013.
George will be stepping down in May.
Colorado’s board of regents approves the contract of new AD Fernando Lovo. The former New Mexico AD has a 5-year deal with CU that will pay him $1.2 million per year, plus incentives. He will be the highest-paid AD in CU history. He officially starts work on Thursday. #cubuffs.
— Brian Howell (@BrianHowell33) December 29, 2025
In just over a year, Lovo has made some pretty good hires for both the basketball and football teams at the University of New Mexico.
The football team, coached by Jason Eck, posted a 9-4 overall record and went 6-2 in conference play, earning a spot in the Rate Bowl against Minnesota, losing 20-17 in overtime.
As for the basketball team, led by Eric Olen, they are off to a strong start this season with a 10-2 record overall, 1-0 in conference play.
"The successful hires of Eck and Olen are among the feathers in Lovo's first-year cap. Also, in Lovo's tenure, the athletics department had record fundraising, new revenue from the state legislature, national championships in track and cross country, the nation's top year-over-year home attendance jump for football, and UNM finished as the highest-ranked non-power conference FBS school in the 2024-25 Learfield Director's Cup standings measuring overall athletic department success."Geoff Grammer - abqjournal.com
Lovo will reportedly owe New Mexico $800,000 upon his departure.
"Per his contract: "If Mr. Lovo terminates this Contract during the Contract Term, Mr. Lovo agrees to pay to the University as liquidated damages, and not as a penalty, fifty percent (50%) of his base salary for the remainder of the Contract Term, within ninety (90) days of such termination. Liquidated damages may be modified to a lesser amount at the discretion of the President.""Geoff Grammer - abqjournal.com
Prior to becoming the AD at New Mexico, Lovoworked at Texas, Ohio State, and Houston, including a stint with the Jacksonville Jaguars.