In the richest college-football naming-rights deal to date, the University of Washington has sold Husky Stadium naming rights to Alaska Airlines for $41 million over 10 years.
The deal needs to be approved by UW regents, set to be discussed at the Sept. 10.
The two sides already have a relationship: In 2011 Alaska Airlines bought naming rights to Hec Edmundson Pavilion, with the resulting Alaska Airlines Arena at Hec Edmundson Pavilion.
As part of the deal, Alaska Airlines will be promoted at a new stadium-area Athletic Village presented by Alaska Airlines. In addition, more than half of the year donations will go toward student-athlete scholarships and welfare.
As noted, it’s one of the richest in college football. TCF Bank‘s naming-rights deal with the University of Minnesota for TCF Bank Stadium had a baseline value of $35 million, but additional parts of the deal pushed the total value to $43 million, or $2.5 million annually.
“This agreement formally brings together two iconic local organizations for the next decade,” Brad Tilden, CEO of Alaska Airlines, said in a statement. “Alaska is proud to be the official airline of the University of Washington, a pillar in the Seattle community with a rich tradition of academics and athletics.”
“I am thrilled that we can expand on a local connection and enhance a long-standing relationship with a Seattle company who shares our values so deeply. As the costs of funding a first-class student-athlete experience continue to rise, it is critical that we seek new and creative funding opportunities with partners who share our values, and I am pleased because that is exactly what we have done with Alaska Airlines,” UW athletic director Scott Woodward said in a statement. “This exciting new agreement will work directly to fund our student-athlete experience and allow us to stay in front of the rising costs of funding student-athlete recruitment, scholarship, travel and competition.”
Image courtesy University of Washington.