The UCF Board of Trustees has called a teleconference at 2:30 p.m. to finalize new naming rights for the football stadium, currently known as "Spectrum Stadium."
Bright House Networks had the original sponsorship, which initially was set to be $1M per year over 15 years. They weaseled out of the deal a few years later in 2013, renegotiating the contract to a lower amount. Bright House Networks Stadium became Spectrum Stadium after the merger.
Here's the key part from the BOT agenda PDF:
I'm guessing the annual sponsorship will be at least $2,400,000 towards UCF, assuming the current rate was in the $800,000 range (which is what had been rumored).
Let's make this fun: Who do you think the new sponsor will be?
https://bot.ucf.edu/files/2019/12/M...of-Trustees-Meeting-on-December-20-2019-2.pdf
Bright House Networks had the original sponsorship, which initially was set to be $1M per year over 15 years. They weaseled out of the deal a few years later in 2013, renegotiating the contract to a lower amount. Bright House Networks Stadium became Spectrum Stadium after the merger.
Here's the key part from the BOT agenda PDF:
Since 2007, UCF Football has hosted six to seven home football games annually (in addition to other special events). The football stadium has provided a critical source of sponsorship revenue in the form of naming opportunities. UCF Athletics has successfully pursued a new naming partner for the UCF Stadium. UCF Athletics, in partnership with the UCF Foundation, has completed a due diligence review of the proposed stadium naming partner, which included background checks and the hiring of an audit firm to review financial statements. The proposed stadium naming partner will generate approximately three times the current sponsorship rate annually.
I'm guessing the annual sponsorship will be at least $2,400,000 towards UCF, assuming the current rate was in the $800,000 range (which is what had been rumored).
Let's make this fun: Who do you think the new sponsor will be?
https://bot.ucf.edu/files/2019/12/M...of-Trustees-Meeting-on-December-20-2019-2.pdf
