Rutgers signed a four-year extension to its football stadium naming rights agreement with New Jersey-based IT solutions provider SHI International. The new contract will "run through June of 2029, with a two-year option on SHI’s side to extend it through June of 2031." The deal will pay Rutgers Athletics a total of $11.2M "over the next six years," starting at $1.55M in FY2024, increasing by an average of $120,000 each year and culminating with a $2.15 payout in FY29. If SHI activates its two-year option to extend the deal through June 2031, it will pay an additional $4.6M -- $2.25M in FY30, $2.35M in FY31. SHI also will "continue to be designated as an 'official partner of Rutgers Athletics'" and receive "significant brand exposure at multiple Rutgers venues" (Newark STAR-LEDGER, 2/5).
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