As NC State looks to become more creative in raising money in the new landscape of college athletics with NIL and a $20.5-million revenue sharing budget annually, the Wolfpack is ready to sell a naming rights sponsorship for Carter-Finley Stadium. The athletic department began its search for a partner last November, utilizing Independent Sports and […]
As NC State looks to become more creative in raising money in the new landscape of college athletics with NIL and a $20.5-million revenue sharing budget annually, the Wolfpack is ready to sell a naming rights sponsorship for Carter-Finley Stadium.
The athletic department began its search for a partner last November, utilizing Independent Sports and Entertainment, an agency that specializes in naming rights revenue generation, to find a company. But to this point, the Wolfpack has not signed a deal to put any corporation’s name on the side of the 58-year-old venue.
“There’s a lot of interest in it,” NC State Athletic Director Boo Corrigan said in his annual press conference Friday. “I was really, really hopeful that we’d be able to have something this year. At this point, we’re three weeks away [from the season opener], I don’t think that’s going to happen at this point. But there has been a great deal of interest. We’ve been meeting with them on a regular basis.”
Although NC State has yet to find the right fit, the naming rights deal could generate a significant amount of income for the athletic department. It’s unclear the specific annual value the Wolfpack athletic department is looking for at Carter-Finley Stadium, but it would likely be more than $2.5 million per year.
Georgia Tech, for example, signed a 20-year, $55-million deal with Hyundai for its stadium naming rights in 2023. Lenovo, meanwhile, inked a 10-year, $60-million contract to sponsor the home of the Carolina Hurricanes and NC State men’s basketball — a venue that hosts more than 60 events per calendar year — last September.
In the terms of the Lenovo deal, NC State athletics receives about 11 percent of the $6 million each year — or in the ballpark of $600,000 to $700,000 annually.
Although putting a sponsor’s name on the side of Carter-Finley Stadium isn’t what some fans want in Raleigh, both families of the venue’s namesakes, Harry C. and Wilbert J. Carter and Albert E. Finley, have given NC State approval to do so.
“The Finley Family has always been proud to have been associated with NCSU Wolfpack Football,” the Finley family wrote in a statement to TheWolfpacker.com. “We know that Mr. Finley would want to assist in any way possible to ensure the long-term success of this fine program.We look forward to cheering on the Wolfpack in the years that follow knowing that their outstanding leadership group will always have the team in a position to compete at the highest levels.”
As talks continue, Corrigan believes NC State is positioned to add a quality company on the side of Carter-Finley Stadium in the near future. It didn’t happen as quickly as he might have liked to have it ready to go for this season, but Corrigan is confident the Wolfpack will be able to find a partner due to the city’s rapidly-growing community based around the university.
“The good thing for us is Raleigh is such a vibrant community from a corporate standpoint,” Corrigan said. “[I] selfishly believe a lot of these companies are coming here because of our graduates. They want NC State people working there. I think there’s going to be a great opportunity there for us, we just haven’t found it yet.”
Category: General Sports
