Staff report
BLOOMINGTON, Ind. — Indiana University Athletics and Merchants Bank announced Thursday a $50 million partnership that includes naming rights to the playing surface at Memorial Stadium and expanded financial support for student-athletes.
Under the 20-year agreement, the field will now be known as Merchants Bank Field at Memorial Stadium. Fans will see the new branding during IU Football’s Aug. 30 season opener against Old Dominion, with signage both on the turf and throughout the stadium.
IU President Pamela Whitten called the deal “another example of how IU Athletics is positioning the university for success in the new world of college sports.”
Athletics Director Scott Dolson said Merchants Bank was a natural partner because of its ties to the university and its commitment to supporting athletes in both competition and life.
Beyond naming rights, the partnership will provide IU student-athletes with free financial literacy training, aimed at preparing them for opportunities in areas such as NIL and revenue sharing.
Michael Petrie, chairman of Merchants Bank and an IU alum, said the deal represents a personal milestone. “Our team is ready and thrilled to provide these athletes with the financial tools and support necessary in planning and building for their future beyond the Sample Gates,” he said.
Memorial Stadium, opened in 1960, has hosted IU Football for 65 years. It has undergone several major renovations, including the 2009 North End Zone project and the 2018 South End Zone Excellence Academy addition.
Last fall, first-year head coach Curt Cignetti led IU to an 11-1 regular season and its first College Football Playoff appearance.
Luke Reiff, general manager of IU Sports Properties, said the agreement comes at a crucial moment in college athletics. “This monumental partnership with Merchants Bank makes a statement with Hoosier fans and alumni,” he said.
Merchants Bank has been recognized nationally for its performance in multiple sectors of banking.
The post IU Athletics, Merchants Bank announce $50M partnership, Memorial Stadium field renamed first appeared on The Bloomingtonian.
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