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Nebraska Nearing a 15 Year $300 Million Multi-Media Rights Agreement with Playfly

That seems like a lot of millions. Maybe it will help pay the next coach’s buyout.

Oklahoma v Nebraska Photo by Steven Branscombe/Getty Images

The Nebraska Athletic Department announced today that it has entered into a new 15-year multimedia rights agreement with Playfly Sports. The agreement is worth reportedly $300 million.

This will be the third Big Ten program to sign with Playfly Sports. The other two are Michigan State and Maryland.

Sean Callahan from Husker Online reported the following:

The payouts would start at $13 million in 2023-24 and increase to $23.2 million in the final year of the agreement.

Nebraska would also receive $7.5 million in signing bonuses, $6.5 million in estimated royalties, $6 million in capital investments, and $2.25 million in NIL funding.

Operations would be transitioned from Oct. 1, 2022, to June 30, 2023. NU currently runs its multi-media rights in-house.

Before taking things in-house, Nebraska had a long-standing relationship with Learfield/IMG College from 2008 to 2021, which paid NU $12 million annually.

Last spring, Nebraska verbally entered into a 12-year, $215 million agreement with JMI Sports, but that never got off the ground.

Here is the joint release between the Athletic Department and PlayFly:

LINCOLN, NE – The University of Nebraska - Lincoln and Playfly Sports, the emerging leader in sports marketing, media and technology, announced today a new 15-year multimedia rights agreement. The deal makes Playfly Nebraska’s exclusive MMR rights holder and sponsorship arm effective October 1, 2022

“We are pleased for the opportunity to work with Playfly as our multi-media rights partner over the next 15 years. In our discussions, we quickly found they will be a true partner who shares the same level of commitment and passion for collegiate athletics as Nebraska,” said Trev Alberts, Vice Chancellor and Director of Athletics at Nebraska. “They are a growing company who is innovative, creative, and ready to adapt to the evolving collegiate athletics environment. We are excited this agreement will continue to help Nebraska Athletics provide resources to support our student-athletes.

Nebraska’s partnership with Playfly will leverage the company’s multimedia rights expertise and tap into its expansive suite of marketing and media solutions to further grow the Huskers brand regionally, nationally and globally. Together, Nebraska and Playfly will work to maximize traditional MMR assets, such as in-venue signage and broadcast feature elements, in addition to leveraging Playfly’s full capabilities set to enhance Nebraska’s digital footprint and fan experience.

“Nebraska is one of the premier athletic programs in the country, and we are honored that Trev Alberts, his staff, and the university have entrusted us with such an important element of their future growth and success, said Christy Hedgpeth, President at Playfly Sports Properties. “Playfly is incredibly energized to support the Huskers with innovative marketing and media solutions that seek to improve the experience of Nebraska’s student-athletes, fans, and alumni across the state and throughout the country.”

The addition of Nebraska to Playfly’s growing portfolio marks its third Big Ten program within its growing college property portfolio, joining Michigan State University and the University of Maryland, in addition to the company’s partnership with the Big Ten Network. In total, Playfly now oversees more than 35 collegiate and high school state association properties with integrated capabilities that expand beyond traditional multimedia rights including naming rights and valuation consulting, esports program development, digital technology offerings, and unique sponsorship innovations such as the recently developed Campus Cast Live broadcasts.

The new MMR agreement between Nebraska and Playfly Sports is pending approval from the University of Nebraska Board of Regents. The item is on the agenda for the Board’s Sept. 30 meeting.