The Univ. of California has agreed to a new 10-year multimedia rights deal with Learfield that will yield the school close to $100M in cash and promotion over the life of the contract. Cal formerly had its multimedia rights with IMG College. The new deal with Learfield represents close to a 100% increase in rights fees for Cal, including $80M in guaranteed cash, plus another $12M in promotional and marketing spend with media buys for the school. The rest of the contract’s value is in trade and about $4M on the front end of the deal that will be invested in student-athlete welfare projects, the school said. Cal considered bids from the incumbent and three other options, including the Pac-12’s multimedia rights business. “Learfield has brought to us a number of ideas that support our connection to the overall objectives and mission of the university,” said Cal AD Michael Williams, who announced the new agreement today. Cal CRO Ash Puri led the selection process. Learfield President & CEO Greg Brown and Chief Business Development Officer Bob Agramonte led the talks for the rights holder. IMG College’s contract with Cal expires in June ‘17, but the school is making arrangements for Learfield to take over the property sooner. Learfield is expected to install an executive director at Cal this fall who will oversee a sales and marketing team of seven employees. “Cal’s leadership has demonstrated a willingness to explore new ideas and ways to engage sponsors in support of the university and we are incredibly excited to begin this new relationship,” Brown said.
GOLDEN BEARS ARE TRULY GOLDEN: At roughly $10M per year, Cal’s deal will be among the richest in the Pac-12. UCLA’s new deal with IMG College averages $14.4M, while Oregon also has a recently negotiated six-year extension with IMG College for $9.5M per year. Cal’s new multimedia rights deal comes on the heels of a new 10-year shoe and apparel contract with Under Armour worth $86M. Next up for the school is their licensing contract. Cal currently has CLC for their licensing agency.
