Virginia Tech's Board of Visitors will vote in an upcoming meeting on Tuesday, Sept. 30, on a plan to add $229.2 million to the school's athletic department through revenue and expenditure adjustments over the next four years.
The plan, which was developed by a committee headed by Board members J. Pearson and Ryan McCarthy in response to athletic director Whit Babcock's August presentation, calls for a $47.1 million investment in the 2026 fiscal year budget.
"Without investment, the university and region risk declining revenues," the presentation reads. "Demonstrating the university's commitment is critical to attracting the external partnerships necessary to achieve success."
A total of $33.3 million of that is suggested in an increase in operating budget, while $13.8 million is proposed in a one-time enhancement.
Larger increases are proposed in future years: $61 million total in 2027, $60.7 million in 2028 and $60.5 million in 2029.
The Board intends to pay for these increases through several avenues. Philanthropy is pegged for covering $120 million. Another $48.3 million comes from institutional support. Increases to student fees of $100 per year will bring in another $21.3 million. The other $39.6 million will be through bridge funding.
The increases, if approved, would vault Virginia Tech into the top quarter of the ACC in operating budget. The proposal puts the Hokies at $190.1 million operating budget in the 2026 fiscal year, a number that does not include a $13.8 million one-time enhancement.
Outlined in the presentation as a goal from the Board: "Bridge funding to reach sustainable financial position by FY30 through enhanced media revenues, conference allocations and other self-generated revenues."
In his August presentation, Babcock said the Hokies had an operating budget around $144 million for this year, though the Board lists a $156.8 million figure prior to the upcoming investment.
With the investment, the figure would be $190.1 million. That'd put Virginia Tech in the neighborhood of Clemson and Florida State atop the ACC. While the Tigers and Seminoles might have increases of their own, the Hokies would have a top-three athletics budget among the conference's public institutions for the 2026 fiscal year. That's a stark difference from being dead last amongst public schools and 14th overall, as Babcock outlined in his slides.
With additional funding, Tech plans to be up to a $212.1 million operating budget by the 2029 fiscal year.
The one-time expense additions in the proposal over four years comes to $42.6 million. Babcock previously laid out an investment plan of $52 million, enhancements that included staff salary boosts, a bigger recruiting budget, heat for the indoor practice facility, LED lights in Lane Stadium, added Olympic sports scholarships and other line items.
The Board's final takeaway in the presentation: "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, on the region and the Commonwealth."