Source: CVDaily Feed
A state records committee ruled 6-1 in favor of releasing the details of Utah State University’s deal with Maverik, Inc. for the naming rights of the Aggie’s football stadium. Tuesday, the university released the terms of the contract that they previously tried to keep secret.
The contract gives Maverik naming rights of the stadium through 2037 at a price of $6.3 million. That money will be paid to the university through quarterly payments of $87,500 over a period of 18 years. The first payment will not be made until January 1, 2016.
Additionally, Maverik will be able to have their own concession stand in the stadium (to be called the Baja Grill), have their own area in the pre-game tailgating festivities, rights to use the term “Official Gas Station of Utah State University Football,” signage on and inside the stadium, an in-game promotion with the video board, 10 seats in an executive suite, 10 lower bowl tickets for giveaways, and opportunities to use USU football facilities at cost for company meetings or sales presentations.
The contract also excludes other potential sponsors that might be business competitors to Maverik. It specifically names other convenience stores like 7-11, Tesoro, Sinclair, Phillips 66, Exxon, Top Stop and others. The contract not only prohibits these convenience stores from having any in-stadium sponsorships, but would also prohibit any grocery stores that might sell petroleum from promoting that fact or any fuel loyalty programs.
USU would also be prohibited from securing naming rights for the Spectrum to a competitor of Maverik.
The full details of the contract can be read in the attached PDF document.