Florida State CFO says debt won’t hinder football coach search or championship goals

Florida State University’s chief financial officer, Kyle Clark, said the school carries $306 million in debt tied to renovations of Doak Campbell Stadium and a new football facility, a figure lower than the $437-$475 million cited by some media outlets. Clark noted the debt is comparable to other FBS programs and is serviced through long-term bonds backed by athletic revenues, ticket sales and sponsorships.

The university’s athletic budget has risen from $76 million in 2014 to a projected $265 million for fiscal year 2027, outpacing overall university growth. Interim athletic director Bruce Warwick said the department can afford to attract “the finest coach” and provide the resources needed for a championship team.

Clark highlighted recent fundraising success, with Seminole Boosters reporting $106 million in pledges and $86 million in cash contributions in July. He added that the athletic department’s revenue pledges exceed the highest annual debt payment by more than five times.

“First and foremost, president Richard McCullough and the board of trustees are absolutely committed that our athletic department has the resources to win a national championship,” Clark said.

Despite recent on-field struggles, including a 23-loss stretch since the 2022 ACC championship, university officials maintain that the financial foundation remains solid and will not impede future hiring or competitive ambitions.