The agreement, which is effective with the 2013-14 academic year and runs for 12 years, includes the following laundry list of items:
WVU retains some existing sponsorships with corporate entities such as athletic apparel and footwear, health care, financial services and pouring rights (beer and beverages).
The deal is expected to pay WVU more than $80 million over 12 years -- an average of $6.67 million per year.
Under the contract, IMG will identify a dedicated team to be based in Morgantown. It had recently advertised for a project manager before the original RFP for these services was cancelled.
"It was time for WVU Athletics to grow our multimedia and sponsorship sales, especially with our recent move to the Big 12 Conference," said Director of Athletics Oliver Luck. "With the resources, services and proven track record that IMG College brings, WVU now has the opportunity to expand its revenue base by engaging new national sponsors while building our athletic and university brand. I'm extremely pleased with this move."
"West Virginia athletics under the direction of Oliver Luck has done a great job building its corporate partner program, and we're thrilled to add our resources to expand on these efforts," said Ben Sutton, president of IMG College. "West Virginia is one of last major schools to handle multimedia and sponsorship sales in house. The university's decision to entrust IMG to grow its sponsor and revenue base while building the school brand continues to validate IMG's collegiate services and burgeoning national marketing platform."
WVU joins several other Big 12 schools which have partnerships with IMG College, including Baylor, Kansas, TCU and Texas. IMG currently represents more than 90 universities nationwide as well as the NCAA and its 88 championships.
Also, radio broadcasts will move to IMG Audio, the largest independent radio network in the U.S. IMG will partner with West Virginia Media Holdings to develop television inventory, including coaches shows and other ancillary TV programming to be determined.