Virginia Tech has received a historic $75 million donation, with the majority directed toward athletics, the school announced Thursday.
The record donation, made anonymously by a four-generation Virginia Tech family, is set to go toward multiple initiatives — including the fundraising portion of the recently approved $229 million investment in athletics over the next four years.
In addition, the donation includes unrestricted funds to be used at the discretion of the athletics director, and additional support through Hokie Ventures, a nonprofit corporation approved earlier this week as a way for Virginia Tech to support revenue generation and strategic investment.
Virginia Tech has made it a priority to boost its investment and support of football — including the hire of James Franklin last November. In December, Virginia Tech received an anonymous $20 million donation toward athletics, which had been its largest to date until now.
The Hokies have not won 10 games in a season since 2016 and have increased its investment to try and get its football program back to national prominence during a rapidly changing time in collegiate athletics.
“Football is the front porch of the University, and sustained investment is critical to competing for championships at the highest level,” Franklin said in a statement. “This generosity provides the resources necessary to recruit, develop and support elite student-athletes while positioning Virginia Tech Football for long-term success.”
