Most college football programs are scrambling to find millions in new funding. Iowa State found theirs in the most unexpected place: their own locker room. When Matt Campbell needed to close a $20 million gap, his top players didn’t just stay loyal. They took less money to make it happen.
How Did Iowa State Help Close the $20 Million Funding Gap Caused by the House v. NCAA Settlement?
In the age of NIL and the recently passed House v. NCAA settlement, revenue sharing has become essential for college football programs to stay competitive nationwide. While most schools falling behind are in the Group of Five, some Power Four programs, including Iowa State, face serious challenges.
Earlier this year, the Cyclones announced they needed an additional $20 million to stay competitive. While there was speculation about how the athletic department might raise the funds, head coach Matt Campbell has revealed a solution that’s almost unheard of in today’s college football landscape: his players are taking pay cuts to help bridge the gap.
On January 1, well before revenue sharing was officially legalized through the House v. NCAA settlement, Iowa State was already bracing for significant changes.
With heavy speculation surrounding the new revenue-sharing model and how it would impact athletic budgets, the school began preparing to close a projected $20 million funding gap to stay competitive in the evolving college football landscape.
Dana Becker, a writer for Sports Illustrated, shared details from a letter sent by Iowa State athletic director Jamie Pollard addressing a 20% increase in the athletic department’s spending.
The department implemented several changes to generate revenue. These included raising the price of joining the Cyclone Club, Iowa State’s booster club, by 20%, adding a sales tax to ticket purchases, and raising the cost of women’s basketball season tickets.
However, those changes weren’t enough to close the entire gap. That’s when Campbell’s program culture made all the difference. The head football coach recently told ESPN’s Pete Thamel that his players are contributing to bridging the remaining shortfall.
Iowa State coach Matt Campbell: “Our Top 20 guys took a pay cut to come back to Iowa State.” He also mentioned coaching staff continuity as a big factor.
— Pete Thamel (@PeteThamel) July 8, 2025
“Our Top 20 guys took a pay cut to come back to Iowa State,” Campbell told Thamel.
What Does This Say About Campbell’s Program Culture at Iowa State?
Campbell has built something special in Ames. In today’s era of college football, having over 20 players take pay cuts is nearly unheard of. It’s a testament to the kind of program he’s created and the loyalty he’s earned from his players.
The results speak for themselves. Iowa State went 11-3 in 2024, capping its season with a win over Miami in the Pop-Tart Bowl. Despite having key pieces take pay cuts, only 16 players entered the portal in 2025, and none were full-time starters.
Campbell also mentioned to Thamel that staff continuity plays a big role for the Cyclones. The head coach has excelled in this area, keeping the same defensive coordinator since he arrived at Iowa State in 2016.
While it’s clear that Iowa State is falling behind financially compared to other programs, they’ve built a culture that allows them to compete at the highest level. This approach has made it possible for them to continue being one of the best teams in the Big 12, even when facing significant budget constraints.
