SHI International Corp has succeeded fellow IT services provider HighPoint.com as the naming-rights partner of the home stadium of Rutgers University in the US.
The deal is worth a total of about $10m (£7.9m/€8.8m) over seven years, beginning immediately. SHI will pay $1.25m in the first year of the agreement, with the fee rising by $100,000 annually, according to the NJ.com news website.
The new agreement is reportedly worth double the previous deal.
SHI Stadium has a capacity of more than 52,000 and hosts Rutgers’ Scarlet Knights American football team home games in the East Division of the Big Ten Conference, as well as lacrosse contests for the men’s and women’s teams.
The venue was previously known as High Point Solutions Stadium from 2011 to 2017, before becoming HighPoint.com Stadium from 2018 until the agreement expired three weeks ago.
Aside from the naming rights, SHI will receive significant branding exposure inside and outside the venue.
“This partnership formalises the strong bond that has existed between Rutgers and SHI for almost 30 years,” SHI president and chief executive Thai Lee said.
“Nearly 350 Rutgers alumni currently work at SHI, and more of our employees earned their degree at Rutgers than any other single college or university.”
Image credit: Rutgers University