IMG College, a division of international sports, entertainment and media company IMG, will manage and market rights for radio programming, coaches’ TV and radio shows, programme sales, sponsorship inventory and publication printing rights.
Included in the contract are provisions for IMG College to pay advance fees and a signing bonus, to provide operating support, and to pay for more than $1.6 million in electronic signage upgrades for the university’s Memorial Stadium. The contract also provides for future revenue-sharing deals for additional multimedia-related sales.
Under the agreement, the university will retain rights to several existing corporate partnerships, including contracts with Pepsi, Adidas, and Gatorade, as well as website management and television and pay-per-view broadcast rights. The total value of the retained rights over the 13-year period is over $30.875 million.
One element removed from the new IMG College rights package is alcohol-related advertising for athletic events, the university has removed indefinitely in an effort to distance itself from alcohol advertising.
