Virginia Tech’s Board of Visitors is convening a special session Sept. 30 to approve $229.2 million in new athletics spending over four years, starting in fiscal 2025-26.
The combination of institutional support, increased student fees, bridge funding and philanthropy would increase the Hokies’ annual operating expenses to $212.1 million in 2028-29. In a presentation to the Board of Visitors last month, Tech athletic director Whit Babcock shared current budget numbers from the Hokies’ ACC peers, led by an unnamed private school, presumably Notre Dame, at $215 million.
That data showed Tech at 14th among the league’s 18 members at $122 million, even though the school’s FY 2024 NCAA financial filing reported $132.8 million, and Babcock told the board that in order to compete, especially in the economic bell cow of football, the Hokies needed to be at $200 million.
Troubled by more than a decade of football mediocrity, the board was receptive to Babcock’s presentation, and two days later, Rector John Rocovich directed colleagues Ryan McCarthy and J. Pearson to work with campus leadership and submit a financial plan for athletics by Sept. 30.
A slide from the Virginia Tech Board of Visitors agenda shows the breakdown of funding for increases to the athletic department.
In materials posted to the Board of Visitors’ website Monday morning, the resolution to be adopted starts: “Now, therefore, be it resolved, that the Board of Visitors hereby expresses its intention to position athletics to be competitive with the best institutions in the Atlantic Coast Conference …”
More than half of the $229.2 million is set to come from philanthropy, $30 million annually over the four years. Whether that money has been pledged is not referenced in the board materials.
Amy Sebring, the university’s executive vice president and chief operating officer is set to present the plan to the board along with vice president for finance and chief financial officer Simon Allen.
Under fire for football’s malaise, Babcock is not mentioned in the board’s materials for the Sept. 30 meeting. The university last Sunday dismissed fourth-year football coach Brent Pry one day after a home loss to Old Dominion saddled Tech with its first 0-3 start since 1987.
The Hokies won their first game under interim coach Philip Montgomery on Saturday versus Wofford.
Increased athletics funding would broaden the candidate pool for Tech’s coaching search and comes as the university considers moving to an organizational structure that mirrors professional sports, complete with a football general manager to coordinate athlete compensation and retention.
Each slide in the board’s materials has an “Invest to Win” logo in the upper right-hand corner, and the final page lists five takeaways:
Financial plan provides support to intercollegiate athletics within the
parameters consistent with state law.
Proposal is a team effort with multiple fund sources needed to succeed.
Financial plan does not directly impact current academic operations, though
it will limit our flexibility for new and emerging investments in the future.
The time is now to make a meaningful investment to our athletic program
that ensures the continued positive impact that the program has on the
university, the region, and the commonwealth.
David Teel, david.teel@virginiamedia.com
https://www.pilotonline.com/2025/09/22/virginia-tech-athletics-spending/
