Iu Athletics announced a partnership with Merchants Bank, which includes the name rights for the field at Memorial Stadium.
The collaboration is for $ 50 million over 20 years. Here is the full release of IU Athletics:
Bloomington, Indiana-Iu Athletics and Merchants Bank today announced a new transformative partnership to support the Department of Intercollegiate Athletics and its student athletes.
The agreement includes a commitment of $ 50 million over 20 years. As part of the agreement with Indiana Athletics and the IU Sports Properties from Learfield, the play area of ​​Memorial Stadium was immediately renamed Merchants Bank Field in Memorial Stadium, immediately in force.
“This agreement is another example of how IU Athletics positions the University for Success in the new world of college sports,” said Iu President Pamela Whitten. “We are especially grateful that Merchants Bank will not only contribute to the success on the field of our teams, but also to the success of our student athletes in life.”
“We have set an enormous value with whom we work together as an athletic department, and that is particularly the case when it comes to a facility as iconic as a memorial stage,” said Iu vice -president and director of Athletics Scott Dolson. “That is what Merchants Bank made an ideal suitable for this possibility. Michael Petrie, chairman of Merchants Bank, and his entire team share our dedication to this great university and the student athletes who are proudly representing. The Merchants Bank-Team is dedicated to supporting our student athletes and Indiana University.”
IU football fans can expect the new partnership to be shown on the season opener of 30 August against Old Dominion. “Merchants Bank Field at Memorial Stadium” will be prominently displayed at several locations on the play area of ​​the stadium. New interior, exterior and directional signage will also be clear this weekend.
Although the new branding is the biggest change that IU fans will see, what this agreement separates from many others, that it goes much further than the name rights. An exciting part of the partnership for IU student-athletes-Zowel today as the future is that Merchants Bank will give them an extensive training for financial literacy. This training is not cost for the student athletes and will ensure that they have the tools to maximize their chances in a new intercollegiate athletics landscape that includes income exchange and zero.
Memorial Stadium has been the home of the Indiana University Football since the opening in 1960. Since then it has undergone a series of renovations, especially in 2009 and 2018. The renovation of North End Zone 2009 has transformed the facility into a horseshoe, while the office space also created the Iu administration treasure. The renovation of 2018 enclosed the South End zone with the New Excellence Academy Facility which, among other things, houses the medical and training facilities and the staff of the department and the Tobias Nutrition Center.
Merchants Bank Field at Memorial Stadium has been the home field for many iconic Hoosier players and many unforgettable IU football seasons during the 65-year history. The largest of those seasons took place last fall, when first-year coach Curt Cignetti Iu led to a 11-1 regular season, a top-five national ranking and the very first berth of the program in the play-off of the University Football.
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