Univ. Of Kentucky Signs 15-Year, $210M Multimedia Rights Deal With JMI Sports

Univ. of Kentucky officials today announced that has awarded JMI Sports the school’s multimedia marketing rights with a 15-year, $210M agreement. UK will be JMI Sports’ first client for which it will serve as its multimedia rights holder. The school will receive a guaranteed rights fee in each of the 15 years of the contract, starting at $9.1M in '15-16 and increasing to $16M in '29-30. The agreement also includes a $29.4M signing bonus to be paid over the first two years of the contract. The deal includes radio rights to UK’s football, men’s and women’s basketball and baseball games; stadium and arena corporate signage and game programs for all home UK events other than those hosted at Rupp Arena; naming rights to university athletics facilities and premium areas; and pre- and postgame television shows and specials and postseason highlight DVDs. JMI Sports was founded in '06 by former Padres Owner John Moores and former Padres Exec VP/External Affairs Erik Judson (UK). In Lexington, Linda Blackford notes UK's current deal with IMG, which expires in April, is worth $80.5M over 10 years. Even though TV rights "no longer are included due to the SEC's broadcast agreements and the impending launch of the SEC Network, UK's multimedia rights deal increased significantly" (KENTUCKY.com, 6/23). ESPN.com's Darren Rovell notes the deal "is believed to be the second-largest college multimedia rights deal that does not include TV behind only that of Alabama, which signed a 10-year deal with Learfield Sports this year that will be worth at least" $14M a year (ESPN.com, 6/23).

NOTE: * = IMG College paid another $10M to buy out Action Sports' signage rights.