Aug. 16, 2007
LAS VEGAS - The UNLV Athletics Department and International Sports Properties, Inc. (ISP Sports) have agreed in principle to become partners and work together with UNLV's multi-media rights and corporate sales and sponsorship development for athletics, special events and entertainment, athletics director Mike Hamrick announced Thursday.
The partnership will guarantee UNLV Athletics more than $32 million over the next 10 years that will go into its athletics and entertainment venues as well as enhancing the visibility of its sponsors and advertisers.
Three elements make up the royalty from ISP to UNLV: annual guaranteed rights fees, signage stipends and revenue sharing of totals in excess of defined thresholds.
"This partnership will benefit our entire program as we join forces with a national leader in ISP to assist us in the further development and growth of our resources and sponsorship base," Hamrick said. "Our facilities need a boost and this partnership will provide some new equipment and technology that will help us immensely in our game and special event presentation.
"There is increased revenue that we will realize and need to reinvest in our programs and student-athletes. Our goal is to become a national program in terms of success both on the fields and courts, and off, and increased revenue is essential."
As part of the agreement, $3.5 million will be spent on equipment upgrades, which include a new center-hung scoreboard, a new LED ring beam and a new courtside signage system at the Thomas & Mack Center, a new outdoor marquee on the corner of Tropicana and Swenson outside the arena, a new auxiliary scoreboard at the south end of Sam Boyd Stadium (in 2008) and a new baseball scoreboard at Earl. E Wilson Stadium (in 2008).
"ISP has given our team the ability to upgrade and enhance our marketing and entertainment equipment needs," said Daren Libonati, Director of the Thomas & Mack Center, Sam Boyd Stadium and Cox Pavilion. "The LED video boards that will go up on the outdoor marquee, the center-hung scoreboard and ring beam in the TMC, plus the addition of needed scoreboards at other venues will allow our customers and clients an even greater event experience at our facilities. We also look forward to partnering with ISP in growing our business and in servicing our clients in a manner that they have come to know at UNLV."
Founded in 1992, ISP Sports has grown tremendously within the intercollegiate athletics marketplace. Its corporate headquarters is located in Winston-Salem, N.C., and the company operates more than 40 other regional offices and has nearly 250 employees.
As the country's largest and fastest growing multimedia rights holder, ISP Sports serves as an active partner with more than 40 of America's leading universities including UCLA, California, Washington, BYU and TCU, four major conferences and two postseason bowl games.
"We are extremely pleased to be associated with such an outstanding university and UNLV's award-winning special events and entertainment operation and its nationally competitive athletics program," said Ben Sutton, Chairman and CEO of ISP Sports. "UNLV's special events and athletics department certainly has a great tradition, but we are more excited about its promising future behind the leadership of Mike Hamrick and his staff. ISP Sports is delighted to now be a part of that future."
