This study examined the level of knowledge and the extent of practice of financial management innovations among sports administrators in Federal and State Colleges of Education in the North-West Zone of Nigeria. A descriptive survey research design was adopted to assess prevailing conditions ithout manipulating any variables. The population comprised 169 sports administrators drawn from Colleges of Education in the zone, out of which a sample of 105 respondents was selected using a multistage sampling technique. Data were collected using a structured, researcher-developed questionnaire titled Knowledge and Practices of Financial Management Innovations among Sports Administrators Questionnaire. The instrument was validated by experts and its reliability established through Cronbach’s Alpha. Descriptive statistics (mean and standard deviation) were used to answer the research questions, while one-sample t-test was employed to test the hypotheses at the 0.05 level of significance. Findings from the study revealed that sports administrators possessed a significantly high level of knowledge of financial management innovations, including modern budgeting techniques, digital financial tools, internally generated revenue strategies, accountability mechanisms, and contemporary financial reporting systems (p=0.000). The study also found that financial  management innovations were significantly practiced in the administration of sports programmes (p=0.000). Based on these findings, the study concluded that sports administrators in Federal and State Colleges of Education in Nigeria are both  knowledgeable and actively engaged in innovative financial management  practices. The study recommended continuous professional development and improved institutional support to sustain and enhance the effective adoption of financial management  innovations in sports administration.