Washington State University may use debt to fix the university’s athletics budget shortfall By Greg Mason, The Spokesman-Review Published: May 6, 2021, 8:24am Share: For Washington State University, getting the athletics department out of debt might require diving into new debt. The athletics budget for the current year is facing a projected $31.1 million shortfall, according to the most recent calculations, with officials attributing significant losses to COVID-19 restrictions on collegiate athletics in the past year. To balance the budget, university administrators have proposed issuing approximately $35.6 millionin general university bonds. WSU officials have estimated the cost of the ensuing debt, which would be repaid through future Pac-12 Conference media and bowl revenues, at approximately $1.6 million per year based on a 20-year repayment term and current market rates.