Well, this is... something.
Breaking: Chancellor Diermeier just announced the formation of the "Vandy United" fund, which totals $300 million—the single largest capital campaign in Vanderbilt athletics history (and I'm not sure it's even close).— Simon Gibbs (@SimonGibbs26) March 29, 2021
So today we found out what the long-rumored mystery press conference with Chancellor Daniel Diermeier and Athletic Director Candice Storey Lee was about involving the “future of Vanderbilt athletics,” and it’s this, which is a very big deal and I probably don’t need to explain to you why this is a big deal. Vanderbilt’s athletic facilities were behind those of the rest of the Southeastern Conference even before the SEC Network revenue-fueled facilities arms race in the rest of the conference that the university hasn’t kept up with, and that gap has only gotten bigger.
Where specifically is this money going?
Candice Storey Lee: A large part of the donation will be allotted to the construction of a new football operations building, a new basketball operations building and significant upgrades to Vanderbilt's McGugin Center.— Simon Gibbs (@SimonGibbs26) March 29, 2021
They are upgrading amenities in Vanderbilt Stadium, too.
Vanderbilt has earmarked $300 million to five athletics facilities projects including new football and basketball buildings. And $200 million has been raised -- $100 million from the university, $100 million in donations, John Ingram with lead gift there of $10 million.— Joe Rexrode (@joerexrode) March 29, 2021
In other words, the university raised $100 million in donations for the capital campaign and matched that with $100 million in university money, and there’s I guess an additional $100 million to be raised — but from the sound of things, they have enough cash on hand to begin some of these projects immediately.
In short, money printer go brrrrr.