January 18th, 2019 | by CollegeAD

Virginia Tech’s annual financial report filed to the NCAA this month shows the athletic department operating with a surplus of $4.8 million. It’s the first time since 2014-15 the department generated a surplus. The department had a $3.2 million deficit last year. The NCAA requires Division 1 member schools to submit financial data detailing operating revenues and expenses for their athletic department on an annual basis. The Roanoke Times obtained the report through a Freedom of Information request. This year’s report summarizing the 2017-18 fiscal year showed Virginia Tech’s 22 athletic programs (11 men’s, 11 women’s) generated revenue of $98,485,395.00, an $11 million increase from the revenue generated by the athletic department in 2016-17 ($87,427,526). Last year, the $87 million in revenue ranked No. 44 among public universities, according to USA Today. The biggest areas of year-to-year growth for Virginia Tech were in ticket sales (up from $17.3 to $19.4), contributions (up from $15,6 to $22.1) and media rights (up from $22.4 to $25.2).  – Mike Niziolek, roanoke – Read More

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