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manassashoo manassashoo OP
Apr 08, 2025 at 09:51 AM ET
This may be the why to go for non-P2 schools to support their Olympic
sports. With football and basketball taking most of the money available, endowments may be the way to go.
Link: link

15 Replies

Maroon Baboon Maroon Baboon
VT should just work to endow one sport to win a team national championship
in something. I partly jest. But only partly 🤣 Maybe someone should make a Monopoly-like board game about buying national championships. I'd totally play it. ** Edited by Maroon Baboon at 4/8/2025, 11:04:02 AM
H
HOO86
Athletic Endowments is the way to go.
It has been the way to go for scholarships for a while now. It's good to see it expand to coaches salaries, and expenses too. Then the annual fundraising can be applied to other things like facilities. There was an article about Stanford fully endowing all of their scholarships about 15 years ago. It is the best way to sustain those non-revenue sports.
A
ancient alien 2018
VT has a single sponsor keeping woman's golf going, but for a university
like VT, where single million dollar donors for one sport aren't encouraged by the AD, endowments would require a totally new highway project that the "good ole boys" have, and will, always resist. VT needs a new AD, and wholesale termination of the top 1/3 layers of the Hokie Club "fundraising". Need new, young blood with several Asst. ADs dedicated to fundraising. Your suggestion may indeed be the way to go, but will be tough sledding for some P4 athletic departments. ( Maybe down the road UVa football will play the VT away game at: Amazon Stadium" in Blacksburg.
S
Stech
I like that schools aren't a slave to TV money, "control your own destiny"
in the sports that you want to support. Like you said, Stanford has done this, we just saw SMU make the playoff with no ACC TV money. Maybe this is the paradigm shift that we need to do that to stop being a slave to football and probably eventually basketball TV money. I also like that UVA is doing this because as I am sure you know, the University of Virginia and Virginia Tech talk and partner on a lot of things thanks to people like Bill and Alice Goodwin, John Casteen and Charlie Steger setting the precedent. PS John Warner getting the House and Senate representatives to meet for lunch once a month for BRAC, has also created communication about Virginia state schools, but particularly UVA and Tech.
1
1947Sunbowl
Absolutely, and this is VT weakness in the athletic department
They think managing finances involve depositing it in a traditional local savings account. I admire Duke, they use their alumni expertise in generatiing wealth through investments that continue to grow and create income for all their sports. If you are successful, you generate the revenue for endowments etc. Another weakness in VT athletic department
vthokieq vthokieq
Uh...that has nothing to do with the athletic department.
The VT Foundation handles investments for all endowments (athletic or otherwise). They have a CIO and a team that manages all this and it isn't in a "traditional local savings account" and they're actually doing quite well. We don't want the athletic department involved in investing. ** Edited by vthokieq at 4/10/2025, 11:59:22 AM
V
VTCALS72
Exactly,
M
Marooned
Don’t we have the right folks coming out of Pamplin for that?
This should be a natural fit for us.
S
Stech
Yes we’re under funded because we stink at getting funding. NoVa, RIC & HR
in particular are gold mines for funding. Many Universities wish they had our Alumni and supporters from those areas. However, we are terrible at doing things to include them. Every year they should have a football/fundraiser game in the DMV, every year they should have a basketball/fundraiser game there too. Why not play some baseball and softball games in Richmond and Hampton Roads, every year!?!? Please don’t get me started that they aren’t fighting on an East West highway from Southwest Virginia to Richmond, Virginia Tech should be leading the charge on that. However, when it comes to Athletics, Virginia Tech and the ACC just want to live 20 years ago. It’s so frustrating!!!
1
1947Sunbowl
I think its pure athletics whit does not leave the new river valley
Pry engages those sources more than whit. But that has always been the tug First bonnie raised her own money for her program after weaver said raise it herself. She did very good and then weaver aaid this is mine and can redistribute Buzz did the same and whit didnt approve Pry does this well and these new sources support football because pry staff hussle. Whit wants to take it and redistribute to programs he needs to subsidize. Whit needs to hussle all over the state network but omg what would he say that inspires writimg a check
vthokieq vthokieq
This is complete BS.
V
VTCALS72
As it a lot of the "Whit is terrible" narrative.
If one really looks at it, Whit is criticized for things way over his head and for not taking high risk actions. He does not look anywhere near that bad on his actual job description performance. No, Whit is not going to get up in Dr. Sands face or take actions that would get him called across the drill field but if you think the next guy will, you are dreaming.
vthokieq vthokieq
No offense...I don't need your assistance.
There are A LOT of valid things to criticize Whit and the department over....there's just no need to make up things.
CrystalCoveHokie CrystalCoveHokie
Easy….Check goes to his buyout
S
Stech
In today’s environment, the AD needs to report to the GM, its professional
sports now. The players start getting paid in July, why act like it’s not happening, because you long for the good old days, which weren’t good for everybody by the way. So yeah buy out Whit now, that should be a good ROI, but redo everything based on the current environment.