Penn State Says it Has Guaranteed More Than $1 Billion in Future Athletics Revenue

Penn State Says it Has Guaranteed More Than $1 Billion in Future Athletics Revenue

In this story:

Penn State has developed new business and marketing partnerships generating more than $1 billion in future athletics revenue, according to Athletic Director Pat Kraft. It also has one of the largest debt services in college athletics, the product of an ongoing $700 million renovation of Beaver Stadium.

In a letter to Penn State fans recapping the 2025-26 athletics season, Kraft said that Penn State saw record attendance, fundraising and ticket sales during the year. Penn State generated record revenue during the 2024-25 fiscal year, topping $250 million in gross athletics revenue for the first time in school history. Figures for the 2025-26 fiscal year will be available early next year.

Penn State also spent more than $250 million for the first time, largely due to increasing NIL payments and the Beaver Stadium renovation. Penn State reported total athletics-related debt of $534.6 million, one of the nation's highest athletics deficits.

Still, Kraft in his letter painted a positive outlook of Penn State's total athletics health.

"Together, we’ve built one of the strongest financial foundations in college athletics, securing more than $1 billion in guaranteed future revenue while dramatically increasing philanthropic support for our student-athletes and programs," Kraft wrote. "Those aren’t simply milestones. They’re investments in championships. They’re investments in people. And they’re investments in the future of Penn State Athletics."

Kraft's letter marked not only the begininng of Penn State's 2026-27 athletics year and budget but also his fifth year in charge of the department. Kraft has made sweeping changes during his Penn State term, including the new 10-year apparrel deal with adidas that took effect July 1.

Kraft said the deal, whose total value could reach $300 million over its lifespan, would set an "industry standard" in college athletics. Penn State on Wednesday unveiled its new adidas football uniforms and opened a campus pop-up shop featuring adidas merchandise.

Kraft has conducted a significant overhaul of Penn State's athletics department since becoming athletic director in 2022. He negotiated a 15-year, $50 million deal for the naming rights to the field at Beaver Stadium and signed contracts with a new media rights partner and a new ticketing partner, among many others. The adidas deal represents Kraft's most consequential change.

Penn State also reached a milestone in the Beaver Stadium construction, holding a "topping out" ceremony in June that placed the last beam atop the new West Tower. When complete, the tower will reach a peak of 195 feet.

"Every day, the future of West Shore Home Field at Beaver Stadium becomes more visible," Kraft wrote in the letter. "After more than 750,000 labor hours, thousands of tons of steel and the topping out of the final beam this June, we’re creating a game day experience worthy of the greatest fans in college sports.

'Expanded concourses, modern amenities, upgraded premium spaces, enhanced technology and improved accessibility will ensure Beaver Stadium remains one of the most iconic and intimidating venues in America for decades to come."

Penn State also opened its new Jeffrey Field soccer complex last year as well as the bubble training facility that relieves scheduling pressure on Holuba Hall, which multiple programs shared with Penn State football.

"These investments aren’t simply about buildings," Kraft wrote. "They’re about creating an environment where the best coaches want to coach, the best student-athletes want to compete and where every member of our department has the resources to pursue excellence. They reflect
our belief that when you invest in people, extraordinary things happen."

On the field, Penn State finished 23rd in the Learfield Directors' Cup, the annual all-sports award of college athletics. Having publicly suggested Penn State could win four NCAA titles last season, Kraft setteld for one: the fifth straight NCAA team title for Penn State wrestling.

"As proud as we are of what we’ve accomplished together, we’re even more excited about what’s ahead," Kraft wrote. "The future of college athletics is being written today, and Penn State intends to help write it. We have extraordinary student-athletes. Outstanding coaches. Incredible staff. Unmatched facilities. And the greatest fans in college athletics.

"Most importantly, we have a community that believes in something bigger than itself. Thank you for believing in our vision. Thank you for believing in our student-athletes. And thank you for believing in Penn State. The momentum is real. The future is bright. And we’re just getting started."

Sign up to our free Penn State Nittany Lions newsletter and follow us on social media.

Mark Wogenrich is the editor and publisher of Penn State on SI, the site for Nittany Lions sports on the Sports Illustrated network. He has covered Penn State sports for more than two decades across three coaching staffs, three Rose Bowls and one College Football Playoff appearance.

Ricky Pearsall Leads Five NFC West Sleepers Who Could Win Fantasy Football Leagues in 2026

Ricky Pearsall Leads Five NFC West Sleepers Who Could Win Fantasy Football Leagues in 2026

In this story:

There are the fantasy players who are drafted to build a foundation for your team. Then you have the players who solidify your team. These individuals are called sleepers for a reason. They are stashed away quietly by fantasy owners until one of their starters goes down with an injury, or if they need a boost in production. These players often begin the season quietly in a limited role. Once they get the opportunity to earn playing time, their true identity is shown, and fantasy owners often scramble to acquire these types of players. A sleeper could determine whether you compete for a championship or not, and could produce just enough points to give you the edge. These sleeping giants are sure to awaken at some point during the season. Here is an assessment of the top sleepers in the NFC West for the upcoming NFL season.

Ricky Pearsall: San Francisco 49ers

Pearsall only played in nine regular season games and was limited by an injury he sustained in Week 4. He was given a role as a deep-threat option, and someone who was capable of stretching the field, but was unable to secure a consistent target share (18.4%). The 49ers are expecting Pearsall to transition into the role opposite Mike Evans. He is expected to see a huge spike in his production from a season ago, and he should see plenty of targets coming his way with Evans occupying the opposing team's best cover corner. Pearsall is a sleeper in PPR formats if he can consistently remain in a full-time role.

Jordan James: San Francisco 49ers

The 49ers run a lot of play-action and variations of wide-zone concepts designed to create bigger running lanes for their backs. Christian McCaffrey, Raheem Mostert and Elijah Mitchell have had their share of success in Kyle Shanahan's system and have performed quite well. Since McCaffrey is heavily involved in the 49ers' passing attack at times, the opportunities for carries exist. James is a player who should get the chance to capitalize. His contingent upside gives him value, and the 49ers' scheme is designed to create efficient production from their RBs. His value as a handcuff is also important, considering McCaffrey's extensive injury history. He did not play a down his entire rookie season until the blowout loss in the postseason. While at Oregon, James averaged 5.4 yards per carry and scored 15 TDs, proving that he can handle a full workload in the event McCaffrey goes down.

Michael Wilson: Arizona Cardinals

With Marvin Harrison Jr. solidified as the WR1, Wilson could emerge as a legitimate sleeper candidate. After Kyler Murray went down with an injury in Week 5, Jacoby Brissett stepped in as the starter, and Wilson was able to develop chemistry with the veteran quarterback and saw a huge uptick in production. He was able to achieve his first 1,000-yard season, and he could produce even better numbers once this duo hits the field in Week 1. To be fair, Wilson's production peaked during Weeks 11-15 after Harrison Jr. missed time in concussion protocol. He immediately became Brissett's top target and proved that he is capable of being a legit WR2. Wilson is considered a late-round sleeper in best-ball formats. His ADP sits at 95, and he's slated as the WR 41.

Blake Corum: Los Angeles Rams

Corum has shown flashes of his ability as the primary back up to Kyren Williams. He had the kind of season fantasy owners love to see from a handcuff as he put up solid numbers across the board. The two talented RBs have formed a dangerous platoon, and Corum is expected to get even more carries this season. He is valuable as a flex option in most leagues, and could be the determining factor in helping fantasy owners win their weekly matchup. In an attempt to keep Williams fresh, Corum received a bigger percentage of the carries, and he did not disappoint. He was ranked in the top 10 in yards per carry (5.1), explosive run rate (15.9%) and avoided tackle rate (25.5%).

Rashid Shaheed: Seattle Seahawks

Another weekly flex option to consider is Shaheed. He is expected to take on an expanded role and has a good chance to win the WR2 job opposite Jaxon Smith-Njigba. Early team updates have indicated that the Seahawks would like to get him more involved in the passing game after his chemistry with Sam Darnold was evident. New offensive coordinator Brian Fleury is implementing shorter and intermediate routes for him instead of only deploying him as a deep threat.

Rashid Shaheed's Full Season Projections 2026-27

His improvement as a route runner increases his value in PPR formats, and his big-play ability makes him a valuable commodity in half-PPR formats as well. He could take on a bigger role than fantasy owners realize if his volume continues to increase week to week.

Daniel Outerbridge covers the NBA, NFL, WNBA, and MLB with an emphasis on the numbers behind the game. His work breaks down player performance, team strategy, and emerging statistical trends to provide actionable insights for fans and fantasy players. Outerbridge has written for a myriad of other outlets including Anubis Sports and FanSided.