Last week, FAMU officials announced that the university has partnered with IMG College, a division of IMG Worldwide. IMG will serve as an exclusive third party sales representative for FAMU’s athletic corporate sponsorship program starting this year.“We believe this multi-year deal is a great statement about where we are as a University and an athletic competitor,” said FAMU President James H. Ammons. The partnership is expected to aid in the continued growth of the FAMU athletic program.
“We believe the University has tremendous growth potential beyond the local level, and we look forward to escalating its brand by further enhancing its sponsorship program," said Tom Stultz, SVP & Managing Director, IMG College.
FAMU’s brand licensing program is managed by The Collegiate Licensing Company (CLC), also a division of IMG Worldwide. The University currently ranks first in collegiate merchandise sold among Historically Black Colleges and Universities (HBCUs) represented by CLC.
The school expects to generate upwards of $250,000 annually from the IMG deal. The revenue will go toward plugging the athletic department’s $5.3M deficit.
“IMG will focus on increasing revenues for four areas: homecoming, the two classics – Florida and Atlanta, and appearance, branding and sponsorship opportunities for the Marching 100 band,” said Carla Willis.
FAMU’s contract IMG runs through October 31, 2013. IMG has similar deals the University of Florida, University of Oregon, and Ohio State.