The Virginia Tech Visitors Board overly approved a plan to add $ 229 million to its athletics budget in the next four years.
The decision moves Virginia Tech among the upper part of their colleagues in funds, at a time when the Hokies are looking for a new chief soccer coach to replace Brent Pry, who was fired earlier this month.
The president of the school, Tim Sands, said the decision “unlocks the door to future success.”
“We have the opportunity to restore the organization to align with the new realities at the conference and national level. It has never been clearer than the future of Hokie Athletics depends on the institutional commitments to compete in association with our students and followers. Today, we are advancing so that we ask our law fans and generous donors to take a step forward with the US.
The decision will add $ 47.1 million to the budget in the current fiscal year, which raises the total budget of the Athletics Department to $ 190.1 million. That number would increase to $ 212.1 million by 2029-30.
Sands also announced that he will designate a Athletics Investment Supervision Committee to monitor expense to “ensure that the funds are spent wisely.”
