A “significant part of the solution” for the Univ. of North Carolina to remain competitive nationally “lies in revenue generation,” and UNC is preparing to expand those efforts “in ways it has not pursued before,” according to Greg Barnes of INSIDE CAROLINA. UNC AD Steve Newmark, who officially took over July 1, said, “Some of that may mean that we have to do things differently than we did before. We may have to get a little bit uncomfortable with initiatives that we pursue, but that is the reality.” The school’s recent hires “reflect the department’s new priorities.” UNC hired CRO Rick Barakat in March 2025 and Josh Borfitz was elevated to CFO in January, “formalizing a structure built around financial strategy and revenue growth.” It marks a “clear departure from the governance‑driven model that defined Carolina athletics for decades.” UNC is “already performing at a high level in commercial revenue,” yet the “gap between expenses and traditional revenue streams continues to present a challenge.” The Savannah Bananas series at Kenan Stadium -- which drew more than 100,000 fans -- “offered a glimpse of what UNC believes is possible.” It was a “rousing success, both in generating revenue for the athletic department and in energizing the community and local businesses.” Concerts “could return to campus as well.” UNC is also “exploring ways to monetize emerging areas like sports science and data analytics.” The primary purpose behind those ideas “would be to support Carolina’s student-athletes, but the inclusion of outside technologies and industry could prove financially beneficial” (INSIDE CAROLINA, 7/20).
PARADISE CITY? Raleigh-based WRAL-NBC’s Brian Murphy noted N.C. State is hosting concerts by both Guns N’ Roses and Noah Kahan this week at Carter-Finley Stadium in effort to showcase “one way it hopes to generate additional revenue for its athletics department in an era of soaring costs.” N.C. State AD Boo Corrigan said the shows are “money makers for us.” Last year’s sold-out Chris Brown concert marked the first major music show at Cater-Finley since 2016, and the school made $500,000 off of it. Corrigan said that the school is “interested in holding more events” at Carter-Finley. N.C. State projected an athletics department deficit of more than $18M. Corrigan said that he would “like to see Carter-Finley Stadium play host to a multi-day summer concert festival” (WRAL.com, 7/20).
