USA Today has released their database of NCAA available athletic department finances. The Hokies sit 41st * in the nation ( some schools don't release). Sixth out of eight given in the ACC with $83,702,698 in revenue and $84,617,028 in expenses.
http://sports.usatoday.com/ncaa/finances/
Whit has his work cut out for him.
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I think we'll see some results from the 110% initiative, VT making the NCAA basketball tournament, 10 wins in football, and the restructuring of the Hokie Club.
Whit does have his work cut out for him, but I think we'll see a bump in revenues this year. The man is working the problem, and I think he's doing it the right way. We all have to do our part as well.
And hopefully ACC network
What's a million dollars between friends?
A million dollars!
I'm too lazy to search for the quote, but during one of his Andy Bitter interviews, Whit explained that after the Buzz Williams hire, he knew that we were going to be in the red for a little bit. He also suggested that that should turn around in the upcoming years as Seth and JJ's contracts ended, and some other loans for facility upgrades over the past decade would be paid off.
Also worth noting that our revenue has increased ~$10 mil in the 2 years since Whit took over. Also worth noting that the increase in revenue from 2015 to 2016 appears to be largely due to increased contributions. The only other time we had a revenue jump of $10 mill or was after the 2006 season, where ticket sales increased by $5mil and contributions increased by $9 million in a single year!
Also worth noting that Clemson's revenue ($83,534,371) and expenses ($82,855,674) the year before their first National Championship appearance (2015) is very similar to our revenue/expenses right now.
As a final note, I'd really like to get our student fees down. Kids are already paying enough to go school.
Weekly reminder to join the Hokie Club...
At $273 a student, I think they get their money's worth. They get to attend games, it gives them a stake in the NCAA, and it arguably increases the value of their degree. As an alumnus, I donate partially because it increases the value of MY degree.
The athletic fees at VT are among the lowest in Virginia. They're less than 1/6th of what students pay at William and Mary, and less than half of what the Hoos pay.
Clemson also supports less sports with that same money. As for student fees Tech sits fairly low in that category compared to many of its peer institutions.
I like how "school funds" has been cut down to 4 digits over the past few seasons. It reflects well on an athletic department when it's increasingly self-supporting.