Many college teams have announced multimedia partnerships over the offseason, and the Florida State Seminoles are just the latest.
On Wednesday, global experiences firm Legends announced, in conjunction with FSU Athletics, that the two sides have agreed on a 10-year multimedia rights deal. The agreement broadens their existing partnership, adding multimedia rights to Legends’ current role in managing premium seating, concessions, suites, clubs, and catering for FSU Athletics.
The two sides offered comments on the decade-long partnership. Here’s that via the release:
“This partnership between Legends and Florida State Athletics creates a dynamic collaboration between like-minded organizations at a time when the importance of alignment has never been greater,” said Michael Alford, Vice President and Director of Athletics at Florida State. “Together we can capitalize on a limitless array of new opportunities for revenue streams while also maximizing our potential in established avenues as well. This will enable us to meet the growing needs of our student-athletes while also maintaining financial stability for the services we provide in areas of fan engagement and experience.”
“Florida State University is a forward-thinking institution that understands the importance of aligning revenue streams to position for success in the new collegiate landscape,” said Mike Behan, President of Legends College. “The recent NCAA settlement has further emphasized the need for universities to explore innovative ways to optimize their commercial potential. Legends is proud that FSU has entrusted our team to build on our partnership to capitalize on this opportunity and further solidify its position as a trailblazer in collegiate sports.”
According to the release, Legends will work with Florida State to elevate multimedia rights, encompassing areas like broadcasting, licensing and sponsorships. They’ve established a dedicated team—Florida State Global Partnerships—that will seamlessly integrate with FSU Athletics to ensure the success of this multifaceted collaboration.
This is Legends’ latest partnership. It also has multimedia partnerships with two other ACC schools—the University of Miami and Georgia Tech—and Notre Dame. And, as some noted, Legends is owned by private equity firm Sixth Street Partners, which has been in talks with Florida State about potential equity funding.
[Legends]
