Boise State released details of its contract with Learfield Sports on Wednesday.
The deal is worth $33.8 million to Boise State over the potential 10-year contract with $26.8 million in guarantees.
For all of that money, Learfield will exclusively manage and sell multi-media and sponsorship rights for Bronco athletics, including signage at all venues, radio and television advertising and sponsorships for coaches’ shows and football and basketball broadcasts, official athletic Web site advertising and sponsorship and the right to seek naming sponsorships for athletic venues, including Bronco Stadium.
The deal begins in July 2010 and cover the next seven athletic seasons. The deal has three one-year extension options. This is the first time the Broncos have outsourced its entire rights in a comprehensive package.
The contract still must be approved by the State Board of Education.
Boise State first announced its decision to sign with Learfield in March, but the terms of the contract were not disclosed.
Among the guaranteed money for Boise State:
— $25.325 million in annual rights fees
— $1 million capital stipend
— $500,000 in extension bonuses, payable in years seven, eight and nine of the contract.
Additionally, Learfield will pay Boise State 50 percent of all revenues in excess of $3.9 million in the first year of the contract and escalating to $5.25 million by the last year of the deal.
The company will also provide $350,000 in office equipment and cell phones. It is a $150,000 increase over Boise State’s current deals, according to the school. The company will provide $292,000 in media advertising as well.
The $1 million capital stipend will be used for new scoreboards and video boards at Bronco Stadium and Taco Bell Arena.
Learfield won the bidding over four other companies — CBS Collegiate Sports, IMG Communications, International Sports Properties and Nelligan Sports Marketing.