Lexington, KY - The University of Kentucky and its athletics department has signed a 15-year, $210 million media marketing contract with San Diego-based JMI Sports, the first such overall multimedia deal for JMI.
“This partnership reflects the fact that the University of Kentucky is a national brand with the largest and most loyal fan base in all of intercollegiate athletics,” UK Athletics Director Mitch Barnhart said in a release from the university.
“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.”
UK will receive a guaranteed rights fee in each of the 15 years of the contract, starting at $9.1 million in 2015-16 and increasing to $16 million in 2029-30. The agreement also includes a $29.4 million signing bonus to be paid over the first two years of the contract. The signing bonus will help the university fund capital projects.
“It is critically important that our athletic program remain not only financially self-sustaining, but is also positioned to continue to be an aggressive partner in our academic efforts,” University of Kentucky President Eli Capilouto said in the release. “Nowhere else in the country is an athletics program more essential to building a thriving public, residential, research university."
Last year it was announced that the Athletic Department would fund $65 million toward a more than $100 million science building on campus. The release did not mention what projects on campus this deal could help fund.
The deal includes:
• Radio rights to UK’s football, men’s and women’s basketball and baseball games;
• Stadium and arena corporate signage and game programs for all home UK events, other than those hosted at Rupp Arena;
• Naming rights to university athletics facilities and premium areas;
• Sponsorship on UKathletics.com;
• Game sponsorships and game promotions;
• Coaches’ endorsements;
• Pre and postgame television shows and specials and postseason highlight DVDs;
• Video features on video boards, other than at Rupp Arena;
• Opportunities to develop UK Athletics Corporate Partnership Program.