A capital campaign following the launch of the net could help bring updates to Lane StadiumGETTY IMAGES
Virginia Tech athletics' FY '17-18 financial reports showed the school generated "record revenue" of $98.5M, with a surplus of $4.8M, according to Mike Niziolek of the ROANOKE TIMES. VT AD Whit Babcock said that he is "happy the department is operating with a surplus for the first time" since '14-15, but he is "focused on the long term financial health of the department." Babcock compares the upcoming launch of the ACC Network to "launching a 'start-up' business." VT has invested $10M into the net's launch -- "mostly on facilities and equipment -- and it will cost" $1.5M a year to run. The ACC is currently "fifth in revenue distribution among Power 5 conferences." However, Babcock said that the ACC Network will "change that." Babcock referenced an "upcoming capital campaign," the goal of which will be to raise $350-400M for "scholarships and endowments along with future capital projects for Cassell Coliseum and Lane Stadium." Babcock said that the campaign will "officially launch sometime in the fall as part of the university's larger fundraising initiative." Cassell Coliseum "dates back" to the early '60s, with the most recent major addition coming in '98. Meanwhile, the last major upgrades to Lane Stadium were finished prior to the '16 football season (ROANOKE TIMES, 6/3).
