The University of Kentucky has inked a multi-million dollar multimedia marketing rights agreement with JMI Sports.
The $210 million dollar, 15-year deal gives UK a guaranteed rights fee each year, beginning with $9.1 million at the start of 2015 and increasing to $16 million when the contract ends in 2030. It includes a signing bonus of nearly $30 million to help fund capital projects on campus. In return, JMI Sports gains radio rights and sponsorships to basketball and baseball games, stadium and arena signage to UK home events, facility naming rights, sponsorships on UK athletics dot com, coaches’ endorsements and other marketing perks.
UK Athletics Director Mitch Barnhart said “We are very impressed with JMI Sports and excited to begin working with them. Their work with many of our peers in college athletics and the experience of their team will make them an excellent long-term partner for UK Athletics and valued part of the Big Blue Nation.”
Other clients of JMI Sports include the Southeastern Conference, Alabama, North Carolina, Oregon, Auburn, Colorado, Duke and Syracuse. UK’s current deal with IMG Sports marketing ends in April of 2015.