Auburn University will double its multimedia rights revenue in a new deal with Fox Sports that was announced last week.
The Tigers’ new 10-year agreement with Fox’s growing collegiate properties division guarantees them $120 million, industry sources said. Fox would not comment on financial specifics. Auburn will have additional opportunities to benefit financially if Fox’s sales hit certain thresholds.
The school’s previous deal with IMG College averaged a little more than $6 million a year.
“Fox Sports will allow us to grow our brand nationally and enhance our brand value,” Auburn Athletic Director Jay Jacobs said. “The entire Fox Sports team has proven how much they believe in Auburn throughout this entire process.”
Auburn represents another significant addition to the portfolio for Fox’s collegiate properties group. The media giant is in the final stages of a new 15-year, $150 million multimedia rights deal with Michigan State that will be announced in the coming weeks. Auburn and Michigan State join Georgetown, Southern California and Villanova as Fox properties.
The loss of Auburn also stands out as another setback for IMG College, which in recent months has lost the rights at Auburn, UCF and Villanova.
In the new deal, Fox picks up Auburn’s rights for corporate sponsorship, the Tigers’ radio network, hospitality, in-venue signage, social media integration, promotional activities and intellectual property rights, as well as other inventory.
“Auburn is a tremendous addition to Fox Sports’ elite portfolio of college multimedia partnerships,” said Kyle Sherman, president of Fox-owned Home Team Sports. Fox’s collegiate properties are a division of HTS. “We look forward to connecting brands into the power of the Auburn community, and acting on the shared vision for what we will build together to create value.”
Jacobs and his new partners at Fox said they’ll also look for ways to drive Auburn content to Fox Sports South and Fox Sports Southeast, which reach 13 million homes throughout Alabama, Georgia, Kentucky, Mississippi, North Carolina, South Carolina and Tennessee.
