UK Athletics awards $210 million multimedia deal
06/23/2014 11:12 AM
UK Athletics announced today that JMI Sports has been awarded a 15-year deal to market the University of Kentucky campus and athletics program.
The university calls the $210 million agreement one of the most valuable in college sports marketing. In a press release, UK Athletics Director Mitch Barnhart touts UK’s national brand.
“The size of this partnership – and our partnership with an emerging force in college sports in JMI Sports – will enable us to maintain and grow as one of the country’s few financially self-sustaining programs, allowing us to continue to provide incredible educational opportunities to more than 450 young men and women as well as continue to partner with the university in unique and distinctive ways.”
The agreement also includes a $29.4 million signing bonus over the first two years, which will help fund capital projects like radio rights to sports events and naming rights to university athletics facilities and premium areas.
This is not the first time UK athletics and academics have joined forces. Last year, Barnhart, along with UK president Eli Capilouto, announced an unprecedented partnership with UK Athletics’ funding of a large portion of an Academic Science Building.
“Nowhere else in the country is an athletics program more essential to building a thriving public, residential, research university,” Capilouto said. “This partnership with JMI Sports helps ensure those contributions are strengthened.”