Kentucky’s recent stadium-rights naming deal with Kroger for Commonwealth Stadium has set a mark for such deals in the SEC and ranks third nationally.
According to a story in Sports Business Journal shared by Miami sports business professor Windy Dees, Kentucky’s $22 million, 12-year deal trails only the deal announced last week with USC and United Airlines ($70 million, 15 years) and Washington’s Alaska Airlines at Husky Field ($41 million, 10 years).
— Windy Dees (@getDeestweets) May 22, 2017
The Wildcats’ deal was a little surprising, considering the massive gobs of money that most teams in the SEC are making these days as the most profitable conference in the nation.
But placing a corporate name on the Wildcats’ stadium provides Kentucky athletic director Mitch Barnhart with a way to wring a few more bucks to enable his school to keep up with the SEC’s power elite.
Considering that somebody is willing to pay such costs, why not try to explore such a way to generate revenue?
Even if it’s extremely unconventional way to make money.