Agreement details compensation, naming partner limitations for Memorial Stadium
COLUMBIA, Mo. (KMIZ)
The contract between the University of Missouri and the company that will help find a corporate sponsor for naming the school's football stadium includes a list of which industries are "prohibited" from a naming partnership.
MU announced on Feb. 10 it would sell corporate naming rights for Memorial Stadium. Once the university finds a buyer, that will mean that the 'Memorial' could be removed from the name of the stadium, in place of its corporate buyer.
ABC 17 News got a copy of the agreement between the UM Board of Curators and Intersect Partners Sports Properties, the Georgia-based company helping to find a corporate naming sponsor.
As part of the agreement, Intersect will $15,000 in payment up front to "cover all travel and expense fees" the company may incur. Intersect will also get 12% of all gross revenue from the first year of a naming rights agreement, and 10% of gross revenue for each of the remaining years of the agreement.
The agreement includes a list of industry categories which will be prohibited from sponsorship agreements. Those industries include:
- Cannabis
- Alcohol
- Tobacco
- Hospitals
- Universities
- Adult
- Companies that would compete with exclusive sponsors already in agreements with the university, including Nike, Coca-Cola and Gatorade
The agreement also includes a list of "pre-existing relationships," though the list is redacted. Dave Matter, a spokesperson for Mizzou Athletics, clarified the list refers to "companies with a pre-existing relationship with Mizzou, not Intersect."
Should the university enter into a naming rights agreement with one of those companies with a "pre-existing relationship," Intersect's compensation would go down to 10% of gross revenue in the first year, and eight percent each remaining year of the agreement.
