Arkansas Signs Contract Extension With IMG College
16 August 2017
Leading collegiate sports marketing business IMG College and the University of Arkansas Department of Intercollegiate Athletics today announced an agreement that will extend its multimedia rights partnership through 2028.
Since 2008, IMG College, through Razorback Sports Properties, has coordinated multimedia rights for Razorback Athletics, which include corporate sponsorships, signage, at-event hospitality, radio and television programming, digital advertising, media guides and playbills.
As part of the 10-year agreement, IMG College will make a significant investment in technology enhancements for Donald W. Reynolds Razorback Stadium, Bud Walton Arena and Baum Stadium. When those enhancements are completed, Razorback fans will be able to access free WiFi systems in each of those venues.
“For the past nine years, IMG College has been a tremendous partner and played an integral role in helping Razorback Athletics become one of the nation’s strongest intercollegiate athletics programs,” said Vice Chancellor and Director of Athletics Jeff Long. “The national leadership of IMG College and our local Razorback Sports Properties team led by General Manager David Shoemaker, understand the collegiate environment and have worked effectively to bring new partners to our program. These partnerships have helped our programs to be competitive in the SEC and nationally. We are confident our partnership with IMG College will grow even stronger through the coming years.
“Thanks to the passionate support of our season ticket holders, our supporters, our fans and our corporate partners, the University of Arkansas is among the most valuable intercollegiate athletics programs in the nation. Not only does that allow us to be financially self-sustaining, which means we do not receive any State of Arkansas tax appropriations funds collected from the taxpayers in the State to support our operations, student fees or direct University support, it also allows us to contribute millions of dollars each year back to campus to further support our academic mission. We are pleased that with this extension with IMG College, we will able to continue those collaborative efforts with campus while investing significant resources into the development of our more than 460 student-athletes competing in 19 sports as well as enhancing the game day experience for all Razorback fans.”
Razorback Athletics is one of 22 financially self-sustaining intercollegiate athletics programs in the nation. Athletic Department funds are generated through ticket sales, SEC Conference distributions, private gifts and contract revenue from multimedia and sponsorship rights.
Razorback Athletics contributes more than $3.5 million annually back to campus for support of various academic and student initiatives. Last March, Chancellor Joseph Steinmetz announced a new Chancellor’s Discovery, Creativity, Innovation and Collaboration Fund. The bulk of the fund comes from SEC Network funds that have been allocated to support faculty and the academic mission on an annual basis.
“We are excited to extend our partnership with the University of Arkansas and further expand our efforts in promoting Razorback Athletics throughout the nation,” said Tim Pernetti, President, IMG College. “We are proud to once again partner with one of the most recognizable and respected brands in all of collegiate sports and work alongside Vice Chancellor and Director of Athletics Jeff Long and the entire Razorback Athletics Family.”