The First Bank & Trust Friday Q&A: Making The Financial Numbers Work In The Revenue Sharing Era

32 Comments

1. 

   133178Hokie March 15, 2025 at 10:55 AM

   My wife and I are sitting in the den and reviewing the ramifications of the pending changed landscape of college athletics. In universities across the country athletes are training/competing with many developing from a young age to excel at each level. This is a feeding ground for the United States to accomplish success at the highest level....the Olympics, which are vital to the persona of our country on the world stage. We believe these cuts would decimate the feeding pools(schools like VT) for many of these sports. It is easy to envision many privately run training centers(faciities) that specialize in these sports; all scattered around the country to join the new/limited universities with certain specialty sports offerings. That landscape seems to be staggering and unimaginable to us. In the 'arms' race with the SEC and Big Ten there are no other winners. If that's the case, why plow all the extra money into the 3 revenue sports and decimate the others. We are struggling with this big time. JMO
   1. 

      jagerhokie March 15, 2025 at 11:22 AM

      Agree completely ??….see my post below…..?
2. 

   middletennhokie March 15, 2025 at 9:24 AM

   You were correct to drop the recruiting articles, waste of time. If i really want to get up to speed on recruiting (which is rare) I go over to 247 Sports where that seems to be there niche. Funny thing is all the articles are pretty much the same regardless of the recruit. Your article is an honest assessment of where college sports is heading, and I hate it.
   1. 

      Walkin` Willie March 15, 2025 at 9:43 AM

      Could not agree more with your comment. I completely understand VT might have to make sacrifices but the fact the current state of college athletics is making them do so is repugnant to me. It is almost as if the powers that be in college athletics are quietly saying "Let's do whatever we can to make more money in the short term for us blue bloods while ostracizing as many college sports fans as possible". If the P2 split from the rest of the schools becomes official, that will be the tipping point for me regardless if VT is a member of the P2 club or not - just cannot envision myself interested if that future state comes to pass.
   2. 

      huskerHokie March 15, 2025 at 12:53 PM

      At one time, I did read the recruiting articles. However, I stopped in the past couple of years because even those athletes who made verbal committments often wavered. Rather than get "invested", I just waited until a month or so before signing day to get up to speed.
3. 

   st_andrew March 15, 2025 at 8:14 AM

   I didn’t know we had a lacrosse team.
   1. 

      tspoon5 March 17, 2025 at 8:33 AM

      Women's only. Men only have a club team
4. 

   namibiahoke March 15, 2025 at 3:10 AM

   A really REALLY good Q&A, Chris. Thought provoking and gut wrenching! That's about the most positive thing I've read about KB leaving!
   1. 

      `lag March 15, 2025 at 9:23 AM

      It's certainly an ironic thought
5. 

   pharlap_99 March 15, 2025 at 2:02 AM

   Chris, First, thanks for an excellent article ... professionally covering some very sensitive topics. I am on the record that Whit, while a decent man who sincerely cares about VT athletics, is NOT the person VT needs leading the AD through this major transition. Is the general consensus currently that Whit (and others on the AD and HC) will remain for the next few years? At minimum, the VT community needs an athletics leader that communicates intentions, specifics and strategies to increase fundraising. imho. I honestly felt Whit would step down this summer but now that seems unlikely. I guess i am asking if the current feel is that Whit will stay on through these next few (very important) years. Thanks
6. 

   HokieJ March 15, 2025 at 12:53 AM

   If Va Tech refuses to improve the facilities (Cassell Coliseum) I guess I just stop attending. A mediocre product on the court and a bad venue doesn’t seem like a money maker. Do better.
   1. 

      Walkin` Willie March 15, 2025 at 9:30 AM

      I guess you are unaware of VT's finances. I want us to be competitive at revenue (and all) sports and if we are to do so, then the lion's share of new money needs to go towards paying players. Capital improvements are now way on the back burner. VT is not refusing to improve facilities, they just don't have the money to do so and become competitive in the revenue sports. This is an "either or" situation until a whole lot more philanthropic money comes in to VT's coffers. Since you are a paid subscriber, I find it odd that you are not more aware of where VT Athletics stands financially.
      1. 

         5_star_commenter March 16, 2025 at 11:32 AM

         I think the point HokieJ was making was that this past season it was a “neither” situation instead of your “either or”
7. 

   GodfatherHokie March 14, 2025 at 10:07 PM

   Chris - is there a means for discovering a school's financial commitment towards "pay for play"? I listen to regional sports radio programing. There seems to be a repetitive rhetoric expressed. As if they have an inside awareness of a school's allocated budget. As I listen to it, over and over, it seems to me like they have no clue about what they are talking about.. This may serve to be injurious. Journalistic integrity is the very foundation of our founding principles!
8. 

   NMB Hokie March 14, 2025 at 9:43 PM

   If cuts are needed I would start with cutting varsity golf, tennis, cross country, swimming and diving. Those could become club sports like our ice hockey team.
   1. 

      HtownHokie March 15, 2025 at 12:25 PM

      yes, if they are club sports then they would actually be funded by THE “student activity fees”! instead of misconstrued words, these club sports will actually reflect the students’ financing their existence, and within the university’s sponsorship. thanks NMB, for your insight.
9. 

   Hanover Hokie March 14, 2025 at 6:53 PM

   Cutting women’s volleyball and then putting the money back into other women’s sports saves nothing right? What am I missing?
   1. 

      Chris Coleman March 14, 2025 at 7:09 PM

      It doesn't save scholarship money, because the scholarships will go to other sports. But as I said, it saves on coaching salaries, team travel, insurance, money that it costs to play games (paying scoreboard keepers, etc.).
      1. 

         HtownHokie March 15, 2025 at 12:49 PM

         it would seem that if sports are cut according to Title IX in accord with gender requirements that the scholarship monies could be cut as well. maybe that money saved wouldn’t be that significant; but it seems a dollar saved is a dollar cut. do we have to continue funding scholarships at the current total(?) number no matter how many sports we have, forever? if so that makes no sense.
10. 

    `lag March 14, 2025 at 4:56 PM

    Good stuff Chris, admire the naming names here of what might be cut, a lot of times articles like this would describe the high level problem then kind of chicken out on laying out the reality.
11. 

    jagerhokie March 14, 2025 at 4:47 PM

    Im not sure if I want to even comment on this as its so very sad . I played professionally and then coached college with limited scholarships ?….I've been a tennis director for 25 years in Florida….I have had over 15 phone calls ( women and men ) call me for help if I needed or another club needed anyone as their jobs are being cut …these are top coaches ….it’s heartbreaking and they all informed me they don’t even recruit high school players anymore due to making their program relevant so it wouldn’t get cut……Just my opinion but college sport sucks !!!!!! The word team is gone …loyalty is gone ….I wasn’t that upset that the men’s basketball and mens football were not that successful as they are stealing from the olympic and true sports that develop the term team ….after this spring good luck naming the men’s basketball and football players for 2025/2o26 …..✌️?
12. 

    UpperQuad March 14, 2025 at 4:33 PM

    VT needs to get much more aggressive at increasing attendance, generating revenues, and getting donor support for sports outside of football and basketball. Wrestling is one sport that has done a good job of cultivating a fan base and donor support, but they seem to have to do it on their own without much backing from VT Athletics.
    1. 

       Tim Lewis March 15, 2025 at 2:46 AM

       UQ, I could be wrong but the way I see it what has made attendance good for Wrestling and WBB is teams that win consistently. I'm guessing but I expect wrestling attendance has been steady and wbb attendance dropped after Liz and Georgia left. Be interesting to see the actual attendance numbers. I certainly agree that VT could do more to increase interest and attendance. I for one would be willing to pay to attend wrestling at Cassell, I'm already paying for wbb season tickets.
13. 

    133019Hokie March 14, 2025 at 4:15 PM

    With the $ advantage that SEC and Big10 schools all have over the ACC, if you cut all the non football & basketball programs, it would still not make up this $20m bogie. This hasn't really started yet, but look at where we are already. There are at least two ranked SEC teams this year playing with players who were on our roster last year, all because we were out bid. It will likely get worse in the future. I am not seeing a way out of this.
    1. 

       HokieJ March 15, 2025 at 12:55 AM

       $20 million?!? More like $70
14. 

    Hokietech March 14, 2025 at 1:57 PM

    Any sport cut could still be a club sport. I know Rugby has always been a club sport and has even won a national title doing so. I played when at school and enjoyed it but it was hard to play and keep up with school work. True student athletes are admirable and hard working.
    1. 

       `lag March 14, 2025 at 4:53 PM

       But to your last point, this is something closer to being a true student-athlete
15. 

    DW Hokie March 14, 2025 at 1:41 PM

    Good, clear-eyed assessment. I hate to sound cold, but I’ve never understood why VT invests any money in tennis, lacrosse or swimming/diving. Those seem like niche sports for a small circle of schools. Much like the recruiting articles that got axed, I wouldn’t even notice if those three sports disappeared tomorrow.
    1. 

       gemrooty March 14, 2025 at 2:32 PM

       One argument for the non revenue sports is at prestigious schools, such as Yale and Stanford, a significant chunk of the undergrads compete on an intercollegiate team of some kind. It’s a selling point that attracts motivated students.
16. 

    2hhoop3 March 14, 2025 at 1:40 PM

    Really good Q&A CC! A lot of food for thought. The considerations around potentially cutting sports start with the hard $$ you mention but, it likely includes many other things including people (as you mentioned), what other conference members are doing, what peers are doing, etc. It is likely not going to be just a straight linear decision on money, even though money will be a critical criteria. Well heeled donors that back particular sports, in addition to the revenue sports will factor in as well I imagine.
17. 

    Jackie VT March 14, 2025 at 1:23 PM

    I’ve never like the thoughts of cutting sports but with this new model of college athletics starting, it’s going to be necessary for non-P2 schools. Unless of course we can massively ramp up our fundraising game.
18. 

    Stork March 14, 2025 at 1:13 PM

    Good stuff. Thanks Chris.