Virginia Tech receives $20M anonymous donation for athletics

Virginia Tech’s athletics program announced this week that it has received a $20 million anonymous donation, the largest gift to athletics in the school’s history.

The donation follows the Blacksburg university’s September announcement of a budget plan that calls for investing $229 million in athletics, coming from operational and philanthropic sources. The university calls the $20 million “a major step” in its fundraising efforts for its “Invest to Win” strategy, which aims to make Virginia Tech Athletics competitive in NCAA’s current Division I and Football Bowl Subdivision.

The university said the money will help the new head football coach, James Franklin, and all other athletic programs recruit top players.

“We are deeply grateful for this extraordinary and timely gift,” said Virginia Tech President Tim Sands in a statement. “Doing more with less, while a testament to the talent of our staff and student athletes, is no longer an option. Invest to Win is about winning championships.”

The university’s previous record athletics donation was an anonymous $15.2 million alumni gift made in 2017.

“The passion of Virginia Tech fans is unmatched and their continued generosity will help elevate our program,” Franklin, who joined Virginia Tech on Nov. 17, said in a statement. “There’s a clear sense of excitement from our fans about where we’re headed. This unprecedented level of support is critical and creates powerful momentum for everything we’re building.”

University officials say the school’s athletics help draw national attention to the university.

Some of Invest to Win’s objectives include fully funding nearly $20 million annually in student-athlete scholarships, investing in coaching staff, recruiting top players and soliciting potential donors to invest in scholarships, facility improvements and resources.

The university did not provide more specifics on how the money would be spent and whether there is a set time frame for expenditures.

According to the university’s website, Virginia Tech Athletics supports more than 550 student athletes competing in 22 sports in the Atlantic Coast Conference.