The future of the Virginia Tech football program is very much in question after the Hokies fired coach Brent Pry. Once perennial ACC contenders, the Hokies have fallen in recent years to lower tiers in the conference. In an effort to reestablish itself as one of the premier football programs in the ACC, Virginia Tech proposed a hefty investment into its athletic department and seeks an additional $229 million over the next four years.
The Virginia Tech Board of Visitors will hold a special meeting on Sept. 30 to consider the budget increase. Outlined in its resolution are the intention to “position athletics to be competitive with the best institutions” in the ACC and the need to amend the budget “in consideration of the changing collegiate athletics environment and potential shifts in future economic conditions.”
In an era when college football programs need more financial resources than ever to compete at the highest level, Virginia Tech is lacking. Its attractiveness as a landing spot on the coaching carousel figures to pale in comparison to other schools.
For instance, South Carolina coach Shane Beamer — the son of Virginia Tech legend Frank Beamer — is not viewed as a legitimate candidate. Beamer is set to make $8.1 million annually with the Gamecocks, which is nearly 40% more than what Pry earned at Virginia Tech.
“The landscape of intercollegiate athletics nationwide has evolved dramatically over the past year,” Virginia Tech said in a statement to ESPN. “The gap between top-tier programs and all other programs has widened. Without additional investment, the university and the region risk declining revenues. Potential losses to existing university revenues such as media rights, ticket sales, and sponsorships, for example, would likely have a negative impact on non-revenue sports, brand value, and alumni connection.”
According to the Knight Commission, Virginia Tech spent $132.8 million on athletics in 2024, which ranked seventh out of the eight publicly available budgets in the ACC. Conference blue bloods Clemson ($181.9 million) and Florida State ($169.8 million) spent tens of millions more than the Hokies.
The Virginia Tech board estimates $156.8 million in athletic department operating expenses for fiscal year 2026 and seeks to elevate that spending to $190.1. Additional investments over the following three years project to give the Hokies an expense budget of $212.1 million by fiscal year 2029.
Virginia Tech’s proposal includes four funding sources: institutional support, a $100 per year increase to student fees, bridge funding and philanthropy.