The California Golden Bears have been busy signing partnerships to boost up their revenue streams. Cal’s 10 year, $86 million partnership with Under Armour dwarves the previous contract Cal had with Nike, and the looks from the early returns have been promising.
Cal has also embarked on new media and licensing partnerships with Learfield. Learfield takes over multimedia rights to broadcast Cal Athletics events on radio, and will also be in charge of licensing and branding. In total, Cal will make $8 million more a year when everything goes into effect this summer.
The University of California and Learfield Licensing Partners have agreed to a 10-year partnership allowing Learfield Licensing to represent the university and its licensing program.
The agreement comes on the heels of additional 10-year partnerships with Under Armour (apparel) and Learfield (multimedia rights) announced last year that will provide significant new revenue for Cal Athletics. Taken together, the three contracts are expected to provide approximately $8 million more annually than previous agreements when they all take affect this summer.
Learfield Licensing, a trademark management company specializing in collegiate licensing and branding, has been hired to help maximize exposure opportunities for Cal through retail merchandising and brand development, along with handling the day-to-day management duties of the university's trademark licensing program. Learfield Licensing will also be working with Cal Bear Sports Properties (managed by Learfield) to create opportunities for increased fan engagement.
"We are thrilled to partner with Learfield Licensing Partners," said Director Mike Williams. "We are looking forward to taking advantage of the synergies of sharing a sponsorship, multimedia rights and licensing partner to continue to build the Cal Brand. LLP demonstrated an understanding of who we are and a strong commitment to continue to build our program with us."
Cal will also have the ability to resell their naming rights to their field now that they’ve ended their partnership with Kabam. Expect the Bears to continue to stay creative to try and pay off their massive stadium debt.