University Seeking To Retain Beamer
Compensation Talks Authorized
November 24, 2000

BLACKSBURG, Va. -- President Charles Steger in discussion with Athletic Jim Weaver last week authorized university counsel to reopen compensation talks with football coach Frank Beamer or his agent. Under Coach Beamer's 10 year contract, only the university can reopen any provision relative to his employment contract.

"Frank's success with Virginia Tech's football program has been recognized nationwide. And once again suitors from other universities are knocking on the door. Other schools have seen our investment in our coaches and facilities and the results that can bring. Our football success has been a great asset for the university and we aim to provide an appropriate compensation to keep Frank Beamer at his alma mater.

"Our package, in excess of one million dollars per year, will place Frank among football's coaching elite nationwide. At this point, we are anxious to hear from Coach Beamer's representative and await an opportunity for further discussion," said university president Steger.

Media reports have indicated Beamer to be a strong candidate for coaching jobs at Alabama or North Carolina. Rumors have been flying throughout the Virginia Tech fan community about Beamer's status with the university.

Beamer's current contract ensures compensation of about $750,000 per year. The contract, which began in 1996, has an automatic rollover provision each year.

"The university has invested millions of dollars over the past decade in athletics, particularly our football program. I believe that overall, our athletic facilities are some of the best in the country. I recently asked the university board for approval to expand Lane Stadium by seeking gubernatorial and legislative approval in the upcoming General Assembly session. We will need to invest considerable time and effort into this fund raising effort, but we hope that Lane will become a top-rate football venue," said Steger.

Executive Vice President Minnis Ridenour notes that, "The $82.8 million expansion of Lane Stadium will be by far the largest capital project ever undertaken at Virginia Tech. It's about three times the size of any single building project such as Torgersen Hall or the Squires Student Center."

Virginia Tech's continued success on the gridiron and the concomitant revenue enhancements have enabled ongoing investments in and expansion of facilities and competitive compensation for Beamer and the assistant coaches.

Athletic director Weaver notes that Tech's football coaching staff salaries rank number 21 nationally. "We have a proposal that would place the coaching staff about eighth nationally. I believe these actions make a strong statement about how we feel about the head coach and his assistants," says Weaver.