Virginia Tech announced an anonymous $20 million donation to athletics on Monday afternoon, the largest gift ever towards Hokie sports.
"We are deeply grateful for this extraordinary and timely gift," Virginia Tech President Tim Sands said. "Doing more with less, while a testament to the talent of our staff and student athletes, is no longer an option. Invest to Win is about winning championships. Excellence in athletics complements our academic mission, elevates our impact and inspires the passion and generosity of Hokie Nation, as demonstrated by this record gift."
The previous record gift to athletics was a $15.2 million donation in 2017.
This contribution "will empower new head football coach James Franklin and all other athletic programs to build top teams," per Tech's release. It comes on the heels of Franklin's hiring in November, which followed up the Board of Visitors' September approval of a $229.2 million increase to the athletic department budget, $120 million of which will be covered by philanthropy.
"The passion of Virginia Tech fans is unmatched, and their continued generosity will help elevate our program," Franklin said in Tech's release. "There's a clear sense of excitement from our fans about where we're headed. This unprecedented level of support is critical and creates powerful momentum for everything we're building."
The Hokies are in the process of rolling out their "Invest To Win" campaign, which is kicked off by this donation. Tech broke down the effort into four categories in its release:
- Fueling student-athlete success: Fully funding nearly $20 million annually in student-athlete scholarships, ensuring that every Hokie can excel in the classroom and in competition.
- A foundation for excellence: Investing in the essentials â elite coaching staff, top-tier recruiting and player development, all to create championship-caliber programs.
- Building our future: Identifying and soliciting Hokies who have an interest in investing in capital projects or endowments, which strengthens scholarships, modernizes facilities and provides lasting resources for our student-athletes.
- Inspiring all-around passionate support: Empowering all of Hokie Nation to make a difference in the programs they care about the most across all 22 varsity sports.
"This historic gift is a transformative moment for Virginia Tech and builds on our growing momentum to 'Invest to Win,'" athletic director Whit Babcock said in the release. "It empowers our student-athletes and coaches, enhances the resources needed to compete and succeed at the highest level and reinforces our commitment to building championship-caliber programs and memorable experiences. We are deeply grateful for this powerful affirmation of our vision and our relentless pursuit of excellence."