The Virginia Tech board of visitors overwhelmingly approved a plan to add $229 million to its athletics budget over the next four years.
The decision moves Virginia Tech among the top of its ACC peers in funding, at a time when the Hokies are searching for a new head football coach to replace Brent Pry, who was fired earlier this month.
School president Tim Sands said the decision “unlocks the door to future success.”
“We have the opportunity to reset the organization to align with the new realities at the conference and national levels. It’s never been clearer that the future of Hokie athletics will depend on the institutional commitments to compete in partnership with our alumni and supporters. Today, we are stepping up to compete, and we ask our loyal fans and generous donors to step forward with us.”
The decision will add $47.1 million to the budget in the current fiscal year, bringing the total athletics department budget to $190.1 million. That number would increase to $212.1 million for 2029-30.
Sands also announced he will be appointing an athletics investment oversight committee to monitor spending to “ensure that funds are spent wisely.”