Albuquerque, NM (KKOB) – UNM Athletic Director Fernando Lovo has been hired as the new Athletic Director at the University of Colorado. Lovo, leaves UNM after just one year on the job where he is credited for hiring football coach Jason Eck who guided UNM to its first bowl game in 10 years and basketball coach Eric Olen, who is riding a 10-2 record and 17 straight home court wins so far this season.
Lovo’s contract with UNM was supposed to end in 2029 and now may owe the university over $800,000 for leaving to Colorado. According to the decision today by the University of Colorado Board of Regents, Lovo, will make $1.2 million per year. His base salary will be $600,000, also earning $300,000 for media activities, $300,000 for community relations. Lovo, could also receive additional money for reaching specific fundraising goals, academic success, attendance goals and competitive achievement.
The Denver Post is reporting, Lovo will be tasked with managing the CU athletic department through a significant budget deficit. Per the terms of his contract with the Buffs, Colorado will “pay or reimburse” him for the buyout required by the University of New Mexico.
In a news release from CU, Lovo said “I’m honored to join this incredible group of student-athletes, coaches and staff at a tremendous institution that strives for excellence and espouses the right values, we are in a time of extraordinary change in college athletics and Colorado should lead the way in shaping what comes next. I look forward to helping our student-athletes succeed in every aspect of their lives while bringing championships to Buff Nation. I am sincerely grateful to the CU Board of Regents, President (Todd) Saliman, and Chancellor (Justin) Schwartz for this incredible opportunity to lead this iconic department and its storied programs. I am also honored to take over leadership of CU Boulder Athletics from Rick George, one of the legendary athletic directors in the country.”
