Virginia Tech Resolution for Authority to Loan Funds to Capitalize New University-Related Corporation 2026-06-02
Board Approves $15.2M Loan Authority to Hokie Ventures
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Description
Virginia Tech’s Board of Visitors authorized the university to provide up to $15.2 million in interest-free working capital loans to Hokie Ventures, a new university-related corporation supporting athletics revenue generation and NIL initiatives. The loans will capitalize operations and marketing activities and must be repaid at the conclusion of Hokie Ventures’ management services role.
Contract Details
Contract Amount
Up to $15.2 million
Vendor
HOKIE VENTURES
Agency
Virginia Polytechnic Institute And State University, VA
Contract Type
FINANCIAL_SERVICES
Document Date
June 2, 2026
Contract Term
To be repaid at the conclusion of the need for management services at Hokie Ventures / termination of the Management Services Agreement
Renewal Info
Single set of cumulative, interest-free advances up to $15.2 million to be repaid no later than the conclusion of the Management Services Agreement or similar arrangement governing Hokie Ventures’ operations; no recurring renewal or extension terms specified.
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APPROVEDIssuing Agency
Virginia Polytechnic Institute And State University
Higher Ed
Blacksburg, VA
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