West Virginia Signs 12-Year Multimedia Rights Deal With IMG College
West Virginia’s long and winding road to a multimedia rights agreement came to a conclusion today when it signed a 12-year deal worth more than $80M with IMG College. The two sides originally came to terms in January, but in February the process was halted because of complaints about the bidding. Once that was resolved, IMG and WVU went back to the table and finalized a 12-year deal that kicks in immediately for the '13-14 season. The Mountaineers will have the opportunity to make more money from the deal through a revenue-share agreement if IMG hits certain sales thresholds.
IMG will sell WVU’s rights in sponsorship and advertising across TV, radio and digital platforms, as well as in-venue signage and promotions. IMG Audio will manage WVU’s radio network, while the firm will work with West Virginia Media Holdings to develop TV ad inventory on coaches shows and other programming. “WVU now has the opportunity to expand its revenue base by engaging new national sponsors, while building our athletic and university brand,” WVU AD Oliver Luck said. IMG’s WVU sales team will operate out of Morgantown, W.V.