BLACKSBURG, Va. – The Virginia Tech Board of Visitors will meet in a special session on Tuesday, Sept. 30, where the board will consider a four-year athletics budget adjustment that would position the university’s athletics program to compete with the top programs in the Atlantic Coast Conference (ACC), according to officials.
The meeting will take place at 9:30 a.m. and will be livestreamed. If the budget is approved, the proposed additional investment would be $229 million over four years, which is intended to bridge funding to reach a sustainable financial position by the 2029 fiscal year. The amount includes both internal and external sources of funding.
Recommended Videos
Officials say that, as a supplement to the existing budget, the proposed budget amendment would be subject to all applicable legal and regulatory requirements. Given the changing collegiate athletics environment and potential shifts in future economic conditions, the board would reserve the ability to amend the supplementary budget for any fiscal year as necessary.
University officials believe the proposed amended budget, if approved, will position Virginia Tech to compete at the highest levels of the conference, resulting in a significant increase in media rights and conference revenue.
The proposal also calls for limited increases in student fees in future years, consistent with state limitations. Virginia Tech currently maintains the lowest student fee of any public university in the Commonwealth. The proposed budget amendment will not impact current academic operations.