Recent Comments
I liked a lot of this but if I'm honest the line about "passion passed from fathers to sons" irritated me. I realize I'm being overly sensitive, but daughters/moms should get some acknowledgement too. I started going to games with my Dad when I was 4 and you could still show up on game day and park in the Cage. My kids are going to grow up going to games too. I married a Hokie but he doesnt have the same life long connection so we wouldn't be season ticket holders if I wasn't pushing it.
Had something to do with how VA handles donations showing up on the balance sheets. Not my area of expertise but that's how I understand it.
and there goes the FSU lead - grand slam for SJU makes it 4-2 B5
I appreciate the context.
I'm satisfied with his dismissal
I watched that and couldn't stand up....if you know what I mean.
Happy Pride Month 😅
I know we have THW, but what is the other non-profit within the athletic dept? I won't pretend to understand the exact goal of the creation of this entity, but here is the language from the BOV materials:
Joint Open Session
1. Approval of Resolution to Affiliate with a New University-Related
Corporation*#: The Committees will review for approval a resolution documenting
the creation of a New University-Related Corporation and approving the affiliation
thereof with the university. In addition to the university's strategic priorities, Global
Distinction and VT Advantage, the university recognizes the critical importance of
intercollegiate athletics to Virginia Tech, the region, and the commonwealth.
The university is requesting Board approval, at the President's discretion, to
affiliate with a Virginia non-profit corporation, Hokie Ventures, as a strategic
partner for Athletics. This university-related corporation will be focused on both
maximizing existing revenues and securing new revenue sources that can be
called by the Athletics Director in support of Athletics and will be governed by an
independent board to include ex officio university representation.2. Approval of Resolution for Authority to Loan Funds to Capitalize New
University-Related Corporation*#: The Committees will review for approval a
Resolution for Authority to Loan Funds to Capitalize a New University-Related
Corporation. The university desires to advance working capital up to a maximum
of $15.2 million to the newly established university-related corporation, Hokie
Ventures, to provide initial capitalization of the corporation. This request redirects
a portion of the loan funding already approved by the Board of Visitors under the
Invest to Win strategy by directing those funds to Hokie Ventures rather than as
an internal loan to the athletic department. These capitalization funds will provide
working capital loan(s) of up to three months of expenditures to finance operations
at the corporation, as well as to fund and support marketing activities.
The resolution sets basic conditions and requirements for the loan(s) and
establishes that the Vice President for Finance, in coordination with the Athletics
Director, will be responsible for finalizing the terms and authorizing specific
advances and altering terms in the future to achieve objectives. The Athletics
Director will oversee the financial performance of Hokie Ventures, review
documentation of ongoing operating expenditures, adjust the working capital
loan(s) to minimize the funds advanced, and ensure repayment of the working
capital advance(s) prior to termination of the agreement.
that 9th inning was something
I don't understand this strategy at all. The model will be universities having for-profit wings that manage revenue athletics. With the IRS recently piercing the veil on NIL collectives and deeming them for-profits, what charitable or educational purpose is this entity going to serve moving forward under 501(c)3 rules? Just seems to really miss the whole point of where things are headed with major college athletics. This isn't going to be able to hide under the guise of non-profit higher education much longer.
Don't we already have two non-profits affiliated with the Athletic Department? Why is a third necessary?
Doesnt this mean we are no longer following the Clemson/Texas Tech model that seem to have been successful?
WVU comeback on Kentucky last night was entertaining
Not the idea of it, just not a true LLC per se. Honestly nothing in the plan will really change with Roc gone, at least in the short term.
No insider info, just what the BOV has posted for session materials pg453. It has been changed to a non-profit and will apparently be voted on around 4pm today.
Had to chuckle alot of them calling RichRod "Fraudriguez"
In that, they're not wrong.
No, I want some one who is at least monogamous for a half.
Is Hokie Ventures LLC in danger now that Roco is out?
FSU up 1-0 in the 3rd.
I saw him and Stinespring on a recruiting trip to Virginia Beach once
The Morgantown chat boards are in full meltdown mode that this kid decided not to be a Mountaineer.
Had to chuckle alot of them calling RichRod "Fraudriguez"
This is a happy thread bro why you gotta twist that knife?
SJU adds another one... 5-2 going into the 7th.