Utah State Univ. and the Maverik convenience stores chain yesterday "released the full contract" of their naming-rights deal for the school's football stadium, and the 22-year, $6.3M deal "allows the Aggies to complete a long-desired upgrade to the stadium and puts Maverik's name throughout the facility," according to Kyle Goon of the SALT LAKE TRIBUNE. After the state records committee "ordered USU to release the contract in a 6-1 decision, the parties agreed to end the battle rather than fight the order." Maverik VP & Chief Legal Officer David Hancock said, "The contract is as vanilla as it gets." Goon notes the deal "lasts through the end" of '37, and Maverik will pay USU "in quarterly installments for the next 18 years." Maverik "will have signage posted throughout the stadium, serve as the official convenience store and gas station" of the football team and "operate a Bonfire Grill in the stadium." The contract "helps fund Utah State's stadium renovation, which is estimated" to cost $36M as USU builds a new press box tower (SALT LAKE TRIBUNE, 6/24). In Utah, Mogan Jacobsen reports Maverik "will be given as many as 40 tickets per home game," which "includes 10 seats in one of the executive suites, 10 lower-bowl seats for promotional giveaways, and up to 20 additional tickets upon request and depending on availability." The agreement also "gives Maverik exclusive negotiations to renew the contract with USU three years prior to the deal's end" (DESERET NEWS, 6/24). Also in Utah, Kevin Opsahl reports if Maverik "goes into default or breeches the terms of the contract, USU could terminate the agreement." Likewise, if USU "breeches the terms of the contract or the stadium expansion is not 'substantially completed before the first home game of USU’s 2018 football season,' Maverik could terminate the deal" (Logan HERALD JOURNAL, 6/24).
