Ron Rivera is playing with fire by keeping a steady hand in support of his head coach. His program is facing some doubts due to the inconsistent records so far. However, fans often misunderstand the limited financial support the program has received over the last two years. And that’s why Justin Wilcox is feeling the heat as head coach of the California Golden Bears in 2025. Wilcox’s team has fallen short of expectations, lacking a winning season since 2019, with a record standing of 42-50 overall. It all started after a humiliating 34-0 shutout loss to San Diego State, where Wilcox himself called the team’s effort “very poor” and “unacceptable.”

And then the last game against Duke was another reason for frustration among fans and donors as the game ended 45-21. The bye week may have been going through some changes. But the donors losing their faith in the program’s leadership is something Ron Rivera didn’t expect. Two prominent donors have withheld NIL funding from Cal’s collective, saying they will not contribute until Ron Rivera is given broader control over the football program. But Rivera was quick enough to clear his stance cleared his stance in support of his 9-year-long HC. “One of the distasteful things I got recently was a letter telling me I need to fire the head coach,” Ron Rivera said.

“You know the head coach’s arms have been tied behind his back. One arm’s been tied behind his back because we haven’t gotten the resources. We finally got the resources. So I want to tell everybody, let’s slow down, let’s focus on the rest of the year. We’re 4-2 OK? Sure, something bad happened last week; I get it. But that doesn’t mean we can’t bounce back.” The collapse of the Pac-12 left Cal scrambling to find a home in the ACC. This new home leaves the Golden Bears getting about 30% of a full revenue share through 2031. This junior revenue status means fewer funds for recruiting, facilities, and overall program investment compared to peers.

In 2022, Cal brought in $120.5 million in revenue but spent $116.8 million. Then, an additional $29.1 million coming directly from campus support was also spent. Even with that university backing, the department still recorded a $25.4 million shortfall. Fast forward to 2023, and the financial hole is dug even deeper. The $129.5 million in revenue couldn’t keep pace with $138.3 million in expenses, plus $33.7 million in campus support. And that led to a $42.5 million deficit. On top of that, the move to the ACC slashes about $15 million from what Cal and Stanford used to earn.

So the combined operating shortfall for the athletic department, excluding university support, was a staggering $75.8 million in 2023. The report pointed out Cal’s heavy dependence on the university for funding, which is around $29 million. Behind the scenes, AD Jim Knowlton and Chancellor Richard Lyons are trying to steady Cal’s finances. A possible boost could come from the “Berkeley tax.” That might send $2–10 million a year from UCLA’s Big Ten money. Adding to the tension, some of Cal’s biggest donors are demanding more control over the football program by wanting Ron Rivera.

Rivera’s NFL experience with the Panthers and Commanders makes him a most-wanted asset. “You don’t hire Mario Andretti and ask him to sit in the passenger seat, right?” One of the donors, Kevin Kennedy, said. “There’s a reason that you bring someone like that on staff: In order to give him control.” Changing leadership is not always the solution to all the problems. The financial factor plays a huge role in today’s NIL-driven College Sports.

Stanford’s financial slam dunk

With all the financial constraints, the Golden Bears’ local rivals, Stanford, are enjoying a treat. Stanford football just scored a massive win off the field with a jaw-dropping $50 million donation from former player Bradford M. Freeman. It’s the biggest individual gift Stanford football has ever received outside of facilities. This gives them a huge shot in the arm for a program that’s been struggling on the gridiron.

The Cardinals have been stuck in a rut, finishing 3-9 in four straight seasons and sitting at 2-3 this year. Thus, this gift gives them a chance to flip the script. Now Freeman, who graduated from Stanford in 1964, has deep pockets. He co-founded a private equity firm named Freeman Spogli and Co. Freeman has supported Stanford athletics for decades and endowed the nation’s first head coach position in 1988.

This new gift will make all the amends by funding scholarships, institutional NIL programs, and other resources. Plus, this financial boost couldn’t come at a better time for GM Andrew Luck. Luck has been leading the charge since late 2024 and has been key in fundraising and setting a vision to get Stanford football back in the limelight. So, this donation sends a powerful message to recruits, coaches, and boosters alike that the Cardinals are serious about turning things around