Cy's costume costs what... a couple hunderd $$$. Maybe have a few of them? Were talking $5,000 max. Chump change for an athletic dept rebranding.
Not sure exactly what they run but try several thousand each if I'm not mistaken... and thats just athletic Cy. Still not all that much in the grand scheme of things but JP is pretty short on money for everything he wants
There is also PR Cy (sadly, I've been able to tell the difference between the two before :no

, that'd probally have to be updated too.
I know Cy has gotten new costumes over the last few years (I can tell by the heads), and even had new feet this year (we gave him crap about having stuffed toes insted of plastic ones, even though the plastic ones had a habit of ripping off...), if not more of the costume so they may not want to replace him right away, since they would have to replace all of them at once.