Texas Tech is dropping the longtime name of its football stadium — Jones AT&T Stadium — as part of a major sponsorship agreement with technology and data center infrastructure provider Galaxy that will include the naming rights to the venue. Texas Tech AD Kirby Hocutt told SBJ the deal is for 15 years and worth around $75M. The deal — which was brokered by Learfield’s local arm, Texas Tech Athletics Partners — will also include the company’s logo appearing at midfield.
“We’re going to continue to maximize all opportunities, be aggressive in exploring new revenue streams and try to stay on the cutting edge of college athletics,” Hocutt said.
In a change reflective of the shifting commercialization of college sports, the deal includes Texas Tech dropping the name of its third president, Clifford B. Jones, from the stadium name in favor of “Galaxy Stadium.” Jones is an integral figure in Texas Tech history, having served as the university president from 1939-44. He was also responsible for a landmark $100,000 gift that helped with the construction of the football stadium, which opened in 1947.
Jones’ name is expected to be enshrined elsewhere around the stadium grounds, though exact details are slated to be announced at a later date.
“It goes without saying college athletics continues to evolve,” said Hocutt, when asked about what the new sponsorship deal represented. “I look at that as a very exciting opportunity and challenge to reinvent athletic administration, college athletics and how we continue to build toward a commercial media type of organization.”
Galaxy replaces longtime sponsor AT&T, which served as the stadium naming rights partner for almost two decades.
As part of the deal, Galaxy will provide varying NIL opportunities to Texas Tech athletes across branded campaigns and original content. The company’s sponsorship will also be extended across Red Raider football and men’s and women’s basketball through digital, social and in-game features.
“In a place that has been very commercially friendly, Texas Tech has always embraced commercial partnerships, frankly, in advance of others in terms of volume and the way you engage with an institution.” Learfield EVP Andrew Wheeler told SBJ. “This is just a natural step and they’re all in.”
The price tag Texas Tech fetched for its football stadium naming rights is among the most significant in recent memory.
Arizona announced a 20-year, $60M deal for the naming rights to its football stadium in November. That followed Indiana’s 20-year, $50M naming rights deal to rename the playing surface in its football stadium to Merchants Bank Field at Memorial Stadium.