Colorado State AD Joe Parker steps down from his position with latest transition to advisory role: Reports

Colorado State athletic director Joe Parker has stepped down from his role, sources told The Coloradoan.

Parker was hired in 2015 by Colorado State and he signed a five-year extension in 2022 to carry through 2027. He was making $439,192 annually through the extension, but CSU's online salary database lists his annual salary at $474,986.

The school has not yet publicly announced the move and no interim or replacement has yet been named.

During Parker's tenure as AD at Colorado State, the school had a lot of success in Olympic sports. However, the school failed terribly at football, which is the primary source of revenue, going 40-63 under three different head coaches.

Although Joe Parker is out as AD, he will reportedly remain with the school in an advisory role. It's uncertain if that will have any impact on the termination clause in his contract. As per the Colorado reports, the termination clause is as follows:

• Termination without cause by CSU: Parker would be owed $750,000 if fired between Jan. 1, 2024, and Dec. 31, 2024. He would be owed $500,000 if fired between Jan. 1, 2025, and Dec. 31, 2025. He would be owed $250,000 if fired between Jan. 1, 2026, and Dec. 31, 2026.
• Termination by Parker: If Parker breaks the contract, he would owe CSU $100,000 if it occurred between January 1, 2024, and Dec. 31, 2026. The amount owed would be $75,000 if he leaves between Jan. 1, 2027, and Dec. 31, 2027.

CSU had budget issues under Joe Parker

During Joe Parker's time as Colorado State's athletic director, the school had budget issues, which could have played a role in the dismissal.

According to the 2023 budget report, Colorado State was struggling financially.

"Of the three Colorado DI schools, Colorado State University appears to be in the least sustainable situation. The university reported a $28.2 million athletics deficit in 2022, the highest in Colorado. That’s compounded by the construction of CSU’s Canvas Stadium, which opened in 2017.

Direct overhead expenses, which includes bond payments on the stadium, went from about $107,000 in fiscal year 2013 to just over $14 million in fiscal year 2022.

Institutional support from CSU to make up for the athletic department deficit rose 90 percent since fiscal year 2013, from about $11 million to $20 million last year," the report said.

Currently, it's uncertain when or who will replace Joe Parker as Colorado State's AD.