Indiana inks naming rights deal for Memorial Stadium’s field

Indiana Athletics and Merchants Bank have agreed to a deal that features a naming sponsorship for the playing field at Memorial Stadium. Going forward, the Hoosiers will play at Merchants Bank Field at Memorial Stadium.

“We put a tremendous value on who we partner with as an athletic department, and that is particularly true when it comes to a facility as iconic as Memorial Stadium,” Indiana athletic director Scott Dolson said in a release. “That’s what made Merchants Bank an ideal fit for this opportunity. Michael Petrie, Chairman of Merchants Bank, and his entire team share our commitment to this great university and the student-athletes who proudly represent it. In addition, the Merchants Bank team is dedicated to supporting our student-athletes’ chances to maximize their opportunities in the new landscape of intercollegiate athletics. This is an exciting day for everyone associated with our department and Indiana University.”

The full agreement includes a $50 million dollar commitment from Merchants Bank over a span of 20 years. The field’s new name will be prominently featured on the playing surface and around Memorial Stadium, according to the release.

Analysis

Something like this felt inevitable. People are almost certainly tired of phrases like “new normal” or “new reality” but that’s just what this is. Indiana has a collegiate athletics department. Collegiate athletics is big business. Big business needs big money.

Now, more than ever, Indiana could use the kind of money this generates. Athletics departments around the country are searching for ways to make up for lost cash in the wake of revenue sharing. Offering up naming rights is a tried and true moneymaker.

Now, is that exactly where the money will be going? Not necessarily, but one way or another Indiana faced a loss in overall revenue and now has a deal in place to get an influx of cash.

Indiana doesn’t have anything specific in mind with this cash, Dolson said. But it’s college athletics, I’m sure they’ll find some useful way to spend it.