Fuente’s Extension a Sign That Virginia Tech’s Financial Situation Has Improved

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Virginia Tech’s financial situation seems to be improving under Whit Babcock. (Photo by Ivan Morozov)

At Whit Babcock’s introductory press conference as Virginia Tech’s new athletic director, Tim Sands made a comment about Tech soon becoming a $100 million athletic department. I spent part of my day looking for that quote, but I can’t find it. But trust me, he said it. I was there.

I don’t remember my reaction when he made that comment, but I’m guessing I laughed a little bit on the inside. At that point in time, the 2013 fiscal year, Virginia Tech was nowhere near a $100 million athletic department. And from the numbers that have most recently been released, they still aren’t. Here are the year-by-year revenue numbers, courtesy of Randy Jones and his annual financial reports

2013-14: $73.065 million (Babcock took over in February of 2014)
2014-15: $80.230 million
2015-16: $83.853 million

Babcock increased revenue by over $10 million in his first two full years as Virginia Tech’s athletic director. That’s a dramatic increase in a