Rutgers athletics has come to an 11-year agreement on a multimedia rights and sponsorship partnership with IMG College beginning in 2013-14 academic year, the school announced today.
The deal guarantees Rutgers more than $65 million along with revenue sharing opportunities. Rutgers has the option to extend the contract by three years so it would run through 2026-27 and be worth more than $87 million.
Rutgers cut ties with Nelligan Sports Marketing in April, costing the university $7 million.
“We are very pleased to announce this strategic partnership with IMG College during this historic time for our athletics program and our university,” Rutgers University Director of Intercollegiate Athletics Julie Hermann said in a statement. “As we transition to the Big Ten Conference, it is essential that we maximize sponsorship opportunities and exposure to grow the Rutgers brand. IMG College’s global resources will help take our brand to the next level by engaging new sponsors and expanding our revenue base.”
IMG College is the nation’s leading collegiate marketing firm and will bring new national and corporate support and brand recognition.
“We are thrilled to create a partnership supporting the athletics program of one of the nation’s oldest and most respected universities,” President of IMG College Ben Sutton Jr. said in a statement. “Rutgers is known as the birthplace of college football, and from these storied beginnings, the University has recently made major investments in athletics, bringing its program to national prominence and creating significant sponsorship opportunities. As IMG College continues to build our local, regional and national marketing platforms, Rutgers is an important addition in the New York market, the largest in the country.”
IMG College was picked by Rutgers after a competitive bidding process.
Michigan, Nebraska and Ohio State are the other Big Ten schools that are partnered with IMG College along with more than 90 universities nationwide, and the NCAA and its 89 championships.