College football program receives multi-million dollar gift after coaching change

A Power Four college football program has received a considerable financial gift following a coaching change

Nov 19, 2025; Blacksburg, VA, USA; Virginia Tech head coach James Franklin speaks during the press conference at Cassell Coliseum. Mandatory Credit: Brian Bishop-Imagn Images | Brian Bishop-Imagn Images

The college football coaching carousel is beginning to slow down as the 2026 offseason approaches.

So far, no fewer than 18 different Power Four programs will have a new head coach in 2026. Michigan is the latest entry into the coaching carousel, and it could create another vacancy depending on who it hires.

One of the earliest entries into the 2026 coaching carousel was Virginia Tech. The Hokies fired head coach Brent Pry following a 45-26 home loss to Old Dominion on Sept. 14.

The Hokies' timing in parting with Pry, coupled with Penn State's decision to part ways with James Franklin, allowed Virginia Tech to get out ahead of the rest of the Power Four schools looking for new head coaches. The Hokies hired Franklin on Nov. 17, two weeks before the conclusion of the 2025 regular season.

Following its hiring of Franklin, Virginia Tech announced a plan to increase its athletics department's budget by $229 million. The Hokies received an anonymous $20 million gift to their athletics department on Monday, breaking the all-time record for the largest donation to the program, set in 2017 at $15.2 million.

Virginia Tech announced an anonymous $20 million gift, a record for the program. This comes on the heels of a new plan to inject $229 million into the athletics department budget. pic.twitter.com/oH4qvdzFH5

— Brandon Marcello (@bmarcello) December 15, 2025

"This gift and others made in support of the university's commitment to excellence in athletics will empower new Head Football Coach James Franklin and all other athletic programs to build top teams," said an official statement released by the university.

Virginia Tech's hiring of Franklin was a move to stabilize the football program following its decline after a prosperous run with Frank Beamer.

The Hokies hired Memphis head coach Justin Fuente to replace the retiring Beamer in the 2016 offseason. After an ACC Championship appearance in 2016, the Hokies posted a 34-29 record over five seasons and fired Fuente after 2021.

Virginia Tech hired Brent Pry in 2022 to right the ship. After a tough first season, the Hokies were 13-13 across 2023 and 2024 with a pair of bowl appearances. But a disastrous 0-3 start to 2025, culminating with the aforementioned loss to Old Dominion, forced the Hokies to move on from Pry.

Despite the sour ending to his tenure in State College, James Franklin comes to Blacksburg 128-60 as a head coach. Franklin accumulated a 104-45 record with the Nittany Lions and won 10 or more games in six of his eleven and a half seasons.

Penn State won a Big Ten Championship game in 2016 and appeared in the 2024 College Football Playoff semifinals under Franklin's leadership.

Former Penn State Nittany Lions head coach James Franklin | Matthew O'Haren-Imagn Images