The Ralphie logo for CU Boulder athletics. (University of Colorado Boulder)
Chancellor Justin Schwartz announced CU has selected Fernando Lovo as the new Athletic Director on Monday. Lovo, formerly the Vice President/Director of Athletics at the University of New Mexico, began the position on Thursday. He will be the seventh AD in the school’s history.
“He has a proven track record of leading student-athletes to success both in competition and in the classroom, and I’m confident that he is the perfect steward to lead CU Athletics into this new era of college athletics,” Schwartz said in a press release.
The CU Board of Regents held a special meeting Monday where they unanimously voted to approve Lovo as the new AD. His five-year contract provides a base salary and a supplemental salary, both being $600,000.
Lovo’s supplemental salary is for “media activities” and “community relations.” On top of his cumulative 1.2 million salary, he will also be paid incentives to reach performance goals. Performance goals include attendance, fundraising, student-athlete academics and competitive achievements.
According to the Daily Camera, his cumulative salary makes him the highest-paid AD in CU’s history.
The change comes after Rick George announced he was stepping down as AD at the end of the academic year. He has served as the AD at CU since he was appointed in 2013. George will officially serve as Special Advisor to the Chancellor and Director of Athletics Emeritus.
“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,” Lovo said in a press release. “We are in a time of extraordinary change in college athletics and Colorado should lead the way in shaping what comes next.”
Contact CU Independent News Editor Avery Clifton at avery.clifton@colorado.edu
