This is my annual update of the Virginia Tech Athletics financial information for the year ended June 30, 2017 (FY 2017). As noted in past reports, the following standard caveats and comments are made:
- The 2017 data includes the 2016 football season and the 2016/2017 basketball season.
- There can be various differences between current and prior year numbers within the same school depending on how the school chooses to present its reports. Contributions reported will not agree with the annual information reports from the athletic fund raising numbers, primarily because only the application of those amounts are presented. If the funds are not expended, they are generally not reported in the NCAA reports.
As in prior years, the information for Virginia Tech and UVA is derived from the published NCAA reports on the Virginia Auditor of Public Accounts (APA) web site.
For this report I have only presented the current and past year info for both Virginia Tech and UVA.
Virginia Tech FY 2017 Financial Snapshot
For FY 2017 Virginia Tech reported an excess of expenditures over revenue (deficit) of $3.289 million. In a recent Tech Sideline interview with Whit Babcock posted April 12, 2018, this issue was addressed. In that interview, Whit disclosed that the VTAF had approximately $7.2 million of scholarship funds on hand that had not been transferred to the athletic department by June 30, 2017. So, if those funds had been transferred, reported contribution revenue would have been approximately $22 million and Tech would have had a surplus in the neighborhood of approximately $4 million.
Football ticket sales and guarantees revenue increased $2.584 million in FY 2017 primarily due to the Battle of Bristol guarantee of $4.3 million.
Sponsored by the Hokie Club’s Drive for 25: The “Drive for 25” initiative seeks to increase membership in the Hokie Club to 25,000 members in order to provide student-athletes with scholarships for a Virginia Tech education, as well as the resources necessary to compete athletically at the highest levels. Click here to join us today!
The FY 2017 men’s basketball ticket sales and guarantees were slightly ahead of the prior year in Buzz Williams’ third season as coach.
Student activity fees applied to athletics increased by approximately 2.82% in FY 2017, most likely due to an increase...
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