The College of Kentucky and the UK Federal Credit score Union signed a 13-year naming rights deal for the college’s esports complicated this week. Beneath the phrases of this partnership, UKFC will function the sponsor and the esports venue can be named the “UK Federal Credit score Union Esports Lounge and Theater.”
Whereas UK Sports activities and Campus Advertising and marketing at JMI Sports activities President Kim Shelton didn’t disclose a precise greenback quantity, she informed The Esports Observer Thursday that the “funding by the credit score union is a low six-figure annual funding with an escalator over 13 years.” Shelton confirmed by way of a subsequent e-mail what she informed us off the document in an interview on Thursday: The deal for the primary yr funding is “$150Okay [USD] with an annual escalator.”
The naming rights deal was facilitated by JMI Sports activities, who has a relationship with the College of Kentucky and controls the media rights granted as a part of that partnership.
The esports services are a part of “The Cornerstone,” a redevelopment of an outdated parking storage and an adjoining parcel that’s being remodeled into 900 parking areas and a 23,000 sq. foot floor ground that may characteristic retail house, a communal eating space, a 100-seat theater, an innovation middle, and an adjoining house for esports when development is accomplished within the fall. The house was named earlier this yr by way of a campus-wide vote.
Shelton described the Esports Lounge as “an actual funding by the College of Kentucky in gaming” and famous that the college “by way of JMI Sports activities is working with Gen.G Esports to proceed to construct upon the esports platform with the targets of programming, audio system sequence, tournaments,” and conferences.
The College of Kentucky started working with Gen.G Esports in October 2019.
JMI Sports activities is a collegiate advertising agency that handles athletics multimedia rights for Clemson College, College of Kentucky, College of Pennsylvania, College of Georgia, Columbia College and the Ivy League. JMI Sports activities was based in 2006 by entrepreneur and former San Diego Padres proprietor John Moores and Erik Judson, who serves as the corporate’s CEO.
Editor’s Be aware: An earlier iteration of this story famous that the funding was “five-figures” – it’s barely bigger than that and we’ve adjusted the story to mirror this.