The University of Phoenix announced plans today in Arizona that it purchased the naming rights of the new Cardinals Stadium, home of the Arizona Cardinals and this year’s BCS national championship game. The private for-profit college will pay $154.5 million over 20, making it one of the richest stadium deals in the country.
It is the first university that I know of to place to participate in this form of advertising. Four Virginia universities in 2003 jumped into the NASCAR sponsorship game sponsoring a car driven by Hermie Sadler during races held in Virginia that season.
