The partnership is for $50 million over 20 years. Here’s the full release from IU Athletics:
BLOOMINGTON, Indiana – IU Athletics and Merchants Bank announced today a new transformative partnership in support of the Department of Intercollegiate Athletics and its student-athletes.
The agreement includes a $50 million commitment over 20 years. As part of the agreement with Indiana Athletics and Learfield’s IU Sports Properties, Memorial Stadium’s playing surface has been renamed Merchants Bank Field at Memorial Stadium, effective immediately.
“This agreement is another example of how IU Athletics is positioning the university for success in the new world of college sports,” said IU President Pamela Whitten.