The Georgia Athletic Association has entered into a 10-year, $152.5 million multimedia and marketing rights deal with IMG College and JMI Sports.
A copy of the contract was obtained by Onlineathens.com on Monday through an open records request. It was agreed to on Dec. 8 and extends a previous deal set to expire on June 30 until 2027. A memorandum of understanding was first agreed to last May.
The deal pays Georgia a guarantee of at least $12.8 million for 2017-18 with increases each year through 2026-27 when the school is to make at least $15.7 million. That annual royalty amounts for 2017-18 includes $11 million for multimedia rights, $1.4 million for new media and $400,000 for seatback rights.
Georgia’s previous multimedia rights deal with IMG was worth $92.8 million over eight years.
The new deal is worth nearly $15.3 million per year, up from $11.6 million in the previous contract. That includes a $10 million royalty payment in the new contract.
Open records request for the win! There are days when I bet McGarity wakes up and says to himself, “ninety days isn’t nearly long enough”.
Now, fans, don’t take this as a message that your contributions aren’t appreciated, or that it’s okay to slack off. Georgia’s commitment to having the best athletic department reserve fund in the country is as strong as ever. For that, it takes a village, you know.