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AP: Athletics department paid $114M for marketing contract

BY DI STAFF | SEPTEMBER 02, 2011 7:20 AM

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The University of Iowa Athletics Department signed a 10-year contract extension worth $114 million with a sports marketing company in 2009, the Associated Press reported Thursday.

Missouri-based Learfield Communications Inc. signed a contract with the UI in 2006, but officials quietly agreed to extend the contract to 2026 in November 2009, according to documents released to AP. At the same time, the UI gave Learfield the right to sell the naming rights to the court at Carver-Hawkeye Arena and the Outdoor Club at Kinnick Stadium.

The contract gives Learfield radio rights to Iowa athletics and coaches’ shows and allows the company to negotiate sponsorships and sell advertising.

With the deal, the Athletics Department is guaranteed annual payments that will rise from $5.8 million this year to $8 million in 2026, AP reported.

— by Sam Lane


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