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5h ago

Virginia Tech Seeks $229 Million Athletics Boost Ahead of Sept. 30 Board Vote

Leaders pitch a four-year funding plan to close ACC gaps through fundraising, institutional support, bridge financing, plus a new student fee.

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Overview

  • Virginia Tech posted a proposal to add $229 million over four years to position its programs with top ACC peers, with the Board of Visitors set to consider it on Sept. 30.
  • Athletics director Whit Babcock has cited a $122 million current budget that ranks 14th in the ACC, with the plan targeting $190.1 million in 2026-27 and $212.1 million by 2029-30.
  • Funding would include $120 million in new fundraising, roughly $109 million from institutional support and bridge financing, plus a proposed $100-per-year student fee increase.
  • Football budget gaps are central to the case, with Virginia Tech at $41 million and Babcock identifying at least $13.5 million in additional needs compared with Clemson ($67.8M), Florida State ($61.1M) and North Carolina ($48M).
  • The proposal comes during a coaching transition following Brent Pry’s firing after an 0-3 start, a context school leaders say necessitates stronger resources.