Colorado State’s athletic department coffers will be a little more full thanks to one development this week.
CSU announced Thursday a 15-year agreement with Public Service Credit Union for the naming rights to the university’s year-old football stadium. The long-term agreement will result in the school being paid $37.7 million over the life of the deal. Per the school, “annual escalator clauses for inflation, as well as a signing bonus,” are also included in the agreement.
The on-campus stadium opened in July of last year at a cost of $225 million, with the first game played in August of 2017.
“This is a partnership that makes so much sense for our university community and for Public Service Credit Union, and we’re thrilled to announce this new agreement,” said CSU president Tony Frank in a statement. “Our stadium will carry the name of a Colorado-based business that shares our commitment to creating opportunity and opening doors for people at all income levels. Our mission and our values as a university align so well with those of PCSU, and the investment by the credit union and its members in our campus and programs will bring great visibility to how much they accomplish as a visionary community partner.”
According to the school’s release, the new naming rights deal, when combined with the field naming rights deal previously announced, actually compares reasonably well with some of the agreements reached by Power Five programs.
The agreement, which when added to the $20 million given in 2016 to name Sonny Lubick Field, brings the total naming rights revenues at Colorado State to $57 million for the stadium. This is comparable to the recently announced $69 million United Airlines Memorial Coliseum at University of Southern California and the $41 million Alaska Airlines Field at Husky Stadium at the University of Washington.
Interestingly, Lubick, the legendary former Rams head football coach, currently serves as the vice president of community outreach for the credit union.