With Georgia Tech supporters having met the goal of a $2.5 million athletic scholarship drive in less than six weeks, the institute has raised the objective to $3.5 million.
Contributors to the Competitive Drive Initiative include new football coach Brent Key and his wife, Danielle, who made the gift that raised the total to the $2.5 million mark. With the Georgia Tech Foundation pledging a dollar-for-dollar match up to $2.5 million, the drive has introduced $5 million in new money to the cash-strapped athletic department.
Supporters have until Dec. 31 for their gifts to the scholarship fund of the athletic department’s Alexander-Tharpe Fund to be included in the matching program.
The drive has brought together the athletic department, institute and foundation and has been a demonstration of the cross-campus collaboration that new athletic director J Batt and school President Ángel Cabrera have sought to support the athletic department.
Adding up to $7 million in new revenue to cover athletic scholarship costs would up additional room in the budget for other expenditures, not least of which is the buyout owed former coach Geoff Collins, reported to be $11.4 million. Scholarships account for about $15 million in the athletic department’s fiscal-year 2023 budget, which initially was proposed to be $105 million.