According to Charleston's dailymail.com, WVU is guaranteed to make more than $80 million over the course of the 12-year deal, which begins with the upcoming fall sports season, and will also benefit from additional revenue-sharing opportunities, according to a press release detailing the plan.
The deal, announced Thursday, follows a bitter seven-month public feud between school officials and West Virginia Radio Corp. owner John Raese over an initial selection process tainted by what state Attorney General Patrick Morrisey called "significant errors and sloppiness."
The decision to sell off these so-called Tier 3 rights, which include radio sports broadcasting and some televised football and basketball games, was seen by school officials as a way to raise a significant amount of revenue and boost the school's marketing profile.
The deal awards IMG control over a slew of university-related properties, including: management of local radio and television game broadcasts and coaches' shows; publications like media guides and schedules; digital platforms, including social media and websites; corporate sponsorships; at-event promotions and game day hospitality; stadium and venue signage; and advertising in university-owned and leased athletic facilities.
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