All articles tagged with #college sports funding
Virginia Tech's athletic department is undergoing significant changes following the firing of football coach Brent Pry, with a new collaborative approach to hiring a head coach, potential establishment of a football GM role, and increased funding aimed at modernizing the program and restoring competitiveness in the ACC, while Babcock's future remains uncertain but likely still involved in strategic planning.
Virginia Tech's athletic director Whit Babcock highlighted the school's significantly underfunded athletics budget, which is around $122 million for 2024, and emphasized the need for an additional $80 million to compete effectively in the ACC, warning that current resources threaten the future competitiveness of Hokies sports.
Penn State and UCLA have become the first universities to partner with Elevate's $500 million private equity-backed College Investment Initiative, marking a significant shift towards private capital funding in college athletics amid financial challenges faced by these institutions.