Gophers, TCF Bank amend stadium naming rights after private contributions falter
The deal, which still requires approval from the Board of Regents on Friday, was announced in a news release Thursday morning, Sept. 8. Athletics director Mark Coyle will hold a news conference at 2 p.m.
The $166 million Athletes Village is scheduled to open in January but the Minnesota has not met its goal of raising all the money from private contributions. The new deal brings contributions to about $120 million for the project, which includes new practice facilities and office space for football and men’s and women’s basketball, as well as cafeterias and study rooms for the university’s 700-plus student-athletes.
The initial deal, signed in 2005, was for 26 years and $35 million. Under terms of the amended agreement, TCF will have an option to extend its sponsorship and the naming rights for TCF Bank Stadium for another 10 years through 2040 season.
Exercising that option would include a $4 million initial contribution to the university.
“TCF has been an incredibly generous and supportive partner to our University and our athletics department for many years, and today’s announcement is another significant milestone in that partnership,” Coyle said in a statement. “By contributing to Athletes Village, TCF is making a positive impact in the lives of every Gopher student-athlete and is helping our department fully fund this critical project through private contributions.”
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