The official announcement isn’t set to come until tomorrow, but it looks as though Rutgers will hand over the naming rights of their stadium to HighPoint Solutions -- a “premier provider of specialized IT services dedicated to Life Sciences and Health Care Industries.”
So, yeah. There it is.
Anyway, the New Jersey Press Media is reporting that HighPoint will take the naming rights for10 years and $6.5 million. Rutgers expanded their stadium to 52,454 during 2008-09 at a cost of just over $100 million. The university hired Brooklyn Sports & Entertainment and IMG College as co-sales agents for the naming rights to Rutgers Stadium last June.
“It’s really exciting,” Rutgers AD Tim Pernetti said. “When we commissioned this excercise about a year ago, our goal was to not only figure out a way to drive up revenue to the athletic department but also to find a partnership that reflected some of the same values our our program at Rutgers.
“I think given the economic climate, which is challenging in everything people face nowadays, we’re thrilled to be able to get something done.”
Rutgers is also still in the process of deciding if they -- like WVU -- want to sell adult beverages at their newly named stadium.
(For more info on naming rights, check out our friends at businessofcollegesports.com)
