The Penn State Board of Trustees approved renovation plans in May to widen the concourse, improve the press box, improve concussions and restrooms, plus other aspects of Beaver Stadium.
One common question over the years has surrounded Beaver Stadium’s naming rights.
Could Penn State sell the naming rights and take on a new identity for the field?
PSU Athletic Director Pat Kraft told StateCollege.com Monday that it remains a possibility, and Kraft is open to selling it.
The NCAA has re-written some of its advertising rules to allow for corporate advertising to be placed in three locations: the 50-yard line and two smaller flanking ads somewhere else on the playing surface. Ads can now be placed on the field, but stadium naming rights have been on the table for years. Would Penn State follow through if a good deal arises?
Add Nittany Sports Now as a preferred source in Google! Click here to add us.“When you ask where it’s at. It’s not that it’s nowhere, I think the option is on the table. Everything is up there, right? [But] we just don’t slap logos anywhere. It’s not done that way. It’s a thoughtful process,” Kraft told StateCollege.com. “And how is that helping us in a revenue area — but no, let me just tell you as I sit here on June 24, you won’t see any of that this year, but I’m not going to take it off the table.”
Kraft left the door open for the possibility but doesn’t want to rush into a significant decision that will impact PSU, athletics, fans and many more.
A deal could benefit the University with significant financial opportunity and flexibility. The Steelers sold their naming rights to Acrisure for a 15-year deal worth up to $20 million annually in 2022. The Eagles extended their naming rights deal with Lincoln Financial in 2019 for 14 years at $12 million per year.
