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1) Discuss the possibility of Virginia Tech cutting sports as a response to COVID-19. – multiple posters
Chris Coleman: There were many questions asking at what point would Virginia Tech be forced to cut sports in response to the COVID-19 outbreak. ODU cancelled their wrestling program yesterday, though to be fair it seems like they were already well on their way to making that decision…COVID-19 just gave them an extra push in that direction.
First off, let’s look at the money that Virginia Tech could potentially lose. I’ve used the Financial Report of Randy Jones from 2017-18 as my guide. Tech ran about $4.9 million in the black in that fiscal year after running in the red for the previous two fiscal years.
Season ticket sales: Football generates about $19 million in ticket sales and guarantees. Tech already announced on March 18 that fans would be given refunds for tickets purchased if games were canceled. So that would be $19 million gone. If basketball season got canceled, that would be another $3 million lost in ticket sales.
So taking out football ticket sales, using 2017-18 numbers, Tech would be about $14 million in the red, and possibly $17 million if there is no basketball season.
Student Activity Fee: $9.7 million of Tech’s athletic...
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