Virginia Tech Proposes $229M Budget Increase For Athletics

Virginia Tech has proposed adding an extra $229 million to its athletics budget over the next four years to help position the Hokies to compete with the top programs in the ACC.

Virginia Tech Expected To Add $50 Million To Athletics Budget

The school’s board of visitors will hold a virtual meeting Sept. 30 to consider the adjustment. Virginia Tech is asking for an additional $47.1 million for 2026-27, bringing the total athletics department budget to $190.1 million.

That number would increase to $212.1 million for 2029-30.

If approved, the proposed total additional investment would be $229 million over four years, which is intended to reach a sustainable financial position. This amount includes both internal and external sources of funding.

“The landscape of intercollegiate athletics nationwide has evolved dramatically over the past year,” the athletics department said in a news release. “The gap between top-tier programs and all other programs has widened. Without additional investment, the university and the region risk declining revenues.

“Potential losses to existing university revenues such as media rights, ticket sales, and sponsorships, for example, would likely have a negative impact on non-revenue sports, brand value, and alumni connection.”

School’s Athletics Budget Ranks No. 14 In The ACC

In addition, the future of football at Virginia Tech is up in the air right now after the school fired coach Brent Pry last week following an 0-3 start to open the season.

The Hokies have not competed for an ACC championship since 2016.

According to ESPN’s Andrea Adelson, athletics director Whit Babcock called out Virginia Tech’s financial shortcomings during a presentation to the board of visitors last month.

Virginia Tech’s current athletics budget of $122 million ranks No. 14 in the ACC, per Adelson. Babcock said that number needs to get closer to $200 million annually.

As for football funding, its current $41 million budget trails Clemson ($67.8 million), Florida State ($61.1 million), and North Carolina ($48 million) among public ACC schools.

Limited Increases In Student Fees

To reach the $229 million goal, the proposed investment would be a shared responsibility between the university and donors, involving a targeted fundraising campaign seeking to raise $120 million in new funding over four years.

The proposal calls for limited increases in student fees in future years.

Virginia Tech currently maintains the lowest student fee of any public university in the Commonwealth. The proposed budget amendment before the board Sept. 30 will not impact current academic operations.

“The proposed action provides an opportunity to make a key strategic investment recognizing the contribution of Virginia Tech Athletics to the Hokie experience for many students, employees, alumni and fans,” the athletics department added in its release.