"I appreciate Virginia Tech's confidence in me leading this program," said Beamer, who is entering his 24th season at the helm. "I believe that continuity has led to the consistency in our program, and we hope for even better days ahead."
Negotiations for the compensation package will begin in January of 2012 to be effective with the start of the contract extension.
via: Hokie Sports.com
A congratulations are in order for the Frankinator. His record as the Hokies' head coach speaks for itself: 187-92-
2 including six conference championships and 17 consecutive bowl appearances. Quite frankly, he is Virginia Tech football and we're lucky to have him leading the Hokies through 2016. He'll turn 64 on October 18th and since the retirement of Bobby Bowden he's the most senior coach in the ACC. You can note that Bowden won his first National Championship when he was 64 years old.
Most of you will be quick to ask the question, "What does this mean for Foster?" And nobody aside from Bud knows the answer. My best guess is sooner rather than later he's going to get an opportunity to be the head coach at a BCS school. At that point I think he's gone. His annuity is only enough of a reward to keep him from taking another defensive coordinator job. And when you're chasing your dream money doesn't really matter much.
Finally, the timing of the announcement, right before today's second and last public scrimmage, is interesting to me. Was it just a coincidence or done intentionally... Either way, there will be scrimmage notes up later.