San Diego State, one of the hottest collegiate properties in the country, has signed a 10-year multimedia rights agreement with JMI Sports, which is also based in San Diego.
The new arrangement will be a revenue-share model as opposed to a revenue guarantee, which is how most multimedia rights deals are structured. San Diego State opted to enter into a revenue share, said John David Wicker, the Aztecs’ athletic director.
“We decided that we wanted to get away from the guarantee model,” Wicker said. “Having a revenue split allows for more creativity. You’re not just working toward a number. They’re going to want to work toward the maximum they can get. It feels like a better deal long term.”
The Aztecs are fresh off a run to the Final Four with their men’s basketball team. They also opened a new $310 million football stadium — Snapdragon Stadium — prior to the 2022 season, and the school is regularly the subject of reports that link it to the Pac-12 Conference if the league decides to expand.
JMI Sports collegiate properties
Clemson (sponsorship sales)
Columbia
DePaul
Georgia (in partnership with Learfield)
Harvard
Ivy League
Kentucky
MAC
Mountain West Conference
Notre Dame (in partnership with Legends)
Patriot League
Penn
Pittsburgh
San Diego State
Southern Conference
But JMI and San Diego State had been in talks long before striking this deal. JMI served as the construction manager on Snapdragon Stadium, working with the university, development partners and the designers.
The Aztecs had previously outsourced their multimedia rights to Playfly Sports. Legends still owns the rights at San Diego State for ticket and premium space sales. Playfly picked up the Aztecs’ rights when Playfly acquired Fox’s collegiate properties.
Wicker said there are no provisions or adjustments in the contract if SDSU moves into another conference. “Because there’s no guarantee involved, it doesn’t matter what conference you’re in, you’re still splitting dollars.”
San Diego State’s property sales team will grow, said Erik Judson, JMI’s chief executive. The property included four executives previously and has expanded to five, with plans to grow further. The Aztecs’ property will report to Pete Thuresson, the newly created senior vice president, and further support will come from JMI’s headquarters in San Diego.
The agreement, which runs through June 30, 2031, makes JMI Sports the official corporate and multimedia rights partner for San Diego State athletics. JMI Sports has been a partner of SDSU athletics since May 2014, when the company came on board as the construction manager for the Jeff Jacobs JAM Center, the school’s basketball practice facility.
JMI then served in a number of consulting roles in the development of Snapdragon Stadium, including a partnership with Legends to oversee construction management, ticketing, premium sales, naming rights and founding partnerships.
“As we expand our business relationship, we’ll utilize our extensive collegiate experience to build SDSU’s brand both regionally and nationally,” Judson said. “This partnership is a model for how we can support the entire SDSU athletics enterprise.”
Wicker did not work with a consultant on the multimedia rights agreement.
