BLACKSBURG, Va. โ Amid revenue shortfalls, Virginia Tech athletics announced Thursday that it will be cutting the salaries of many of its employees.
โNo collegiate athletics department has been spared from the harsh financial reality of revenue shortfalls directly attributable to COVID-19,โ said Athletic Director Whit Babcock in a news release.
โAt Virginia Tech, home football and basketball games, especially, are significant sources of revenue and support all of our varsity sports programs.
No one making $40,000 or less will have his or her salary affected.
Through salary reductions, financial contributions, and efficiencies, Virginia Tech Athletics expects to return nearly $15 million into its budget to manage through the challenges of the coming 2021 fiscal year and beyond.