Tech said 90 percent of the $78 million came in the form of gifts that weren’t tied to football or basketball tickets, and there were more than 20 donations of more than $1 million.
The financial boost for the Yellow Jackets comes at a somewhat tumultuous time for college sports, as name, image, likeness and the transfer portal change how coaches build rosters, conference realignment continues to reshape the size and scope of the league, and a recently proposed settlement would not only allow programs to use players but would require programs to repay damages to former players over a 10-year period.
As part of the settlement, NCAA member schools would also have the option to share with players an average of 22% of media, ticket and sponsorship revenue generated by their major sports programs, which could take effect as early as the 2025-26 season.
“Ultimately, we haven’t backed away from that change, but rather we’ve leaned into it,” Butt said. “We’ve been very clear that our goal is to achieve a 22 percent revenue sharing rate, and we’re actively engaging and collaborating with stakeholders and donors on and off campus to achieve that goal.”
“We are developing a roadmap and a path to achieve 22 percent revenue sharing for student-athletes. I think that shows that we are open to change and are willing to find opportunity in change.”
Hired in October 2022, Butt’s tenure at Tech has included a variety of initiatives, including the hiring of men’s basketball coach Damon Stoudemire and football coach Brent Key, securing naming rights for Hyundai Field at Bobby Dodd Stadium, hosting helluva block parties before home football games and overseeing the ongoing demolition of the Edge Center at Bobby Dodd Stadium and the construction of the Fanning Center.
On the athletic front, Tech football and baseball returned to the postseason last season, golf and volleyball remain elite programs capable of competing for national titles, and while neither of Tech’s basketball teams made it to the 2024 NCAA Tournament, both have highly-anticipated freshmen set to enroll this fall.
Now with a record amount of money in the bank, Butt knows the pressure is on for the Jackets to continue winning at a certain level, but the bigger picture in Tech athletics remains the same.
“I think the results go beyond just what’s on the field, which is why part of the answer isn’t just one program or one coach. I think it’s a broad-based effort across the board,” he added. “Whether it’s the 22 percent revenue share or the overall goal of having a broad, elite sports program, it’s not just about donor support. No one can do it alone.
“More support from donors means more people in our fan base who are watching, caring and supportive, but at the end of the day, I welcome the challenge and I think our entire athletic program and the Institute welcomes that standard of excellence.”
