CHICAGO – The Rutgers Stadium has a new name when the Scarlet Knights embark on their 150th year of college football.
Three weeks after the expiration of its eight-year contract with High Point Solutions, Rutgers signed a new naming rights agreement with a New Jersey-based IT solutions provider.
Rutgers announced Friday a multi-year partnership with SHI International Corp., a Somerset-based company founded in 1989 that claims to offer "customized IT solutions for every aspect of the business environment" and is said to be a global technology provider Solutions and products with more than 20,000 customers in the United States.
The new name will be SHI Stadium (pronounced by the initials S.H.I.)
While Rutgers did not formally announce the financial terms, a person familiar with the contract told NJ Advance Media that it is a 7-year contract that starts at $ 1.25 million and increases $ 100,000 annually to $ 1.85 million in 2025- 26
In June 2011, Rutgers agreed to an eight-year denomination rights agreement with the then-named High Point Solutions worth $ 600,000 per year. So, essentially, the Rutgers Athletics Director, Pat Hobbs, more than doubled the number of appointing rights from the previous stadium in Year 1 and more than triple in Year 7.
"As the State University of New Jersey, we are pleased to partner with SHI," Hobbs said in a statement. "Based in Somerset, SHI is proud of its strong ties to Rutgers, as we celebrate the 150th anniversary of college football here, we are delighted to partner with a company that shares our unceasing quest for excellence. a positive impact on athletics, college and the New Jersey community. "
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In a press release, Rutgers said that SHI "will enjoy a significant brand exposure through signage in and around the stadium, including the stadium's exterior signage, marker signage, campus directional signage, and campus placement. logo in the field ".
"This partnership formalizes the strong bond that has existed between Rutgers and SHI for almost 30 years," said Thai Lee, president and CEO of SHI International. "About 350 Rutgers alumni currently work at SHI, and more of our employees earned their Rutgers degree than any other college or university." Deeply rooted in New Jersey and influential around the world, both SHI and Rutgers share a story. , culture and commitment to excellence that will make this badociation especially rewarding. "
Both the Rutgers soccer team and the men's and women's lacrosse teams play within the 52,454-seat arena that was called Rutgers Stadium from its inception in 1938 to 2011. The university also has its annual graduation inside the stadium and Rutgers is expected to consider it. Add other events in an effort to increase the income of the athletic department in the next decade.
The name of the Rutgers stadium was adjusted to HighPoint.com Stadium last season after the Sparta-based company, N.J. He pulled "solutions" from his name, according to the company's co-founder, Tom Mendiburu.
Rutgers will hold its first sporting event at the newly named SHI Stadium on Friday, August 30, when the Scarlet Knights celebrate their history as the birthplace of college football and the 150th anniversary of the sport with a time of 7:15 p.m. Eastern shock against the UMbad.