Rutgers Stadium will now be called High Point Solutions Stadium after a naming rights deal with the company was announced Tuesday.
The deal is good for 10 years and worth a reported $6.5 million. The school did not disclose the financial terms of the deal, but athletic director Tim Pernetti said in a statement the agreement was beneficial to the school. Last year, Rutgers hired Brooklyn Sports & Entertainment and IMG College to help in its quest for a naming rights deal.
“When we began this process, we were looking for a very specific fit, and we have found that in the company, the people and the core values of High Point Solutions,” Pernetti said. “It is very special to create this partnership between one of New Jersey’s most innovative and successful corporations and Rutgers University.”
High Point Solutions, an information technology company, is based in Sparta, N.J.
Rutgers becomes the 15th school to play in a stadium with corporate naming rights. Five of those schools play in NFL stadiums. That seems to be more the norm in the Big East -- five of the league's eight teams now play in stadiums with corporate names. One has to wonder whether this will become a growing trend as cash-strapped athletics departments look for ways to find more revenue.
Stadiums with corporate names
Akron -- Summa Field at Infocision Stadium
Louisville -- Papa John's Cardinal Stadium
Maryland -- Capital One Field at Byrd Stadium
Miami -- Sun Life Stadium
Minnesota -- TCF Bank Stadium
Pittsburgh -- Heinz Field
Rutgers -- High Point Solutions Stadium
San Diego State -- Qualcomm Stadium
Syracuse -- Carrier Dome
Temple -- Lincoln Financial Field
Texas Tech -- Jones AT&T Stadium
UCF -- Bright House Networks Stadium
USF -- Raymond James Stadium
Wake Forest -- BB&T Field
Western Kentucky -- Houchens Industries – L. T. Smith Stadium