WVU has been authorized by its Board of Governors to negotiate and finalize an amendment to the current agreement with Learfield IMG College relating to West Virginia University athletics multi-media and sponsorship rights. (WVU Photo)
The West Virginia University Board of Governors held a special meeting Friday (Sept. 4).
The Board, citing West Virginia Code §6-9A-4(b)(9) and (12), then entered executive session to discuss confidential legal, personnel, and deliberative matters relating to: commercial competition matters, the purchase, sale or lease of property, the investment of public funds and the University’s ongoing response to the COVID-19 pandemic.
When members emerged, they voted to authorize negotiations to negotiate and finalize an amendment to the current agreement with Learfield IMG College relating to West Virginia University athletics multi-media and sponsorship rights.
“Due to the impacts of COVID-19, we are discussing how to move forward under a revised revenue structure that will better reflect the current media rights economic environment of Intercollegiate Athletics as impacted by the pandemic,” said WVU Director of Athletics and Associate Vice President Shane Lyons.
The existing extended relationship is worth more than $125 million over 16 years and will run through the 2034-35 season. It also includes funds for important capital improvements to the WVU Coliseum and Milan Puskar Stadium.
The next regularly scheduled meeting is set for Sept. 18.
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ak/09/04/2020
CONTACTS: April Kaull
Executive Director of Communications
University Relations
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OR
Michael Fragale
Department of Athletics
304-293-2821; Michael.Fragale@mail.wvu.edu
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