Rutgers Athletics extends naming rights deal with SHI for football stadium
Rutgers Athletics has extended their naming rights deal with SHI International for the football stadium, as the new deal gives them the rights all the way through June 2029 and an option for SHI to add two more years taking it through 2031 if they so choose to according a report from NJ.com's Brian Fonseca.
Now the previous deal which was struck back in 2019 with SHI International was a seven year deal for $10 million, while the new deal pays Rutgers a total of $11.2 million over the next six years. The deal starts at at $1.55mill for 2024 and will increase by $120,000 each year after that.
Now if SHI International does decide to invoke the clause gaining them two more years on the deal, they would be on the hook to pay Rutgers an additional $4.6 million for 2030 and 2031.
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