Virginia Tech’s Board of Visitors is scheduled to hold its next meeting on Monday, June 1, and Tuesday, June 2 in Blacksburg.
On the agenda is a vote to affiliate with a new “university-related corporation in support of intercollegiate athletics named Hokie Ventures, LLC, according to public documents posted online on Friday, May 22.
According to the documents, the LLC will be a “non-profit university-related corporation with potential to include for-profit subsidiary entities.” The documents state that future success for Virginia Tech’s athletic department will depend on:
- Enhanced revenue generation and fan engagement, with the ability to distribute funds in support of Athletics
- Brand value creation for the university, including creating Name, Image, and Likeness (NIL) platforms for athletes
- Flexibility to generate new investment
- Ability to be nimble for an uncertain competitive future (e.g. conference realignment)
In addition to approving the affiliation, the board will also approve a loan of up to $15.2M in “advance working capital” for Hokie Ventures. The loan carries no interest rate and will expire after the initial term of the affiliation agreement. The $15.2M will come out of the bridge funding the board previously approved in August 2025 as part of the Invest to Win…