Syracuse University cancels contract with sports marketer IMG (PS)

[OrangeXtreme]

http://www.syracuse.com/news/index....sports_marketer_img.html#incart_river_default

SYRACUSE, N.Y. -- Syracuse University has terminated its multi-million dollar agreement with the sports marketing colossus, IMG.

The reasons are not clear. IMG's multi-media rights contract with SU had extended through the 2020-21 season.

The school sent a letter to sponsors last week, notifying them that SU's contract with IMG was terminated July 1. The letter said SU is exploring its sports marketing options, including partnering with another company, negotiating a new agreement with IMG, or doing the work itself.

 

[Bill Orange]

Things that make you go umm.

 

[OrangeXtreme]

Brent Axe ‏@BrentAxeMedia 6m
I've heard some rumbles that SU felt they weren't making enough $$ from multi-media rights. Notice the "in-house" part of that story.

Brent Axe ‏@BrentAxeMedia 5m
They very well could re-sign with SU under new terms as well. Will be interesting to see where this goes.

Brent Axe ‏@BrentAxeMedia 26s
Something to keep an eye on in IMG story is the coaching salaries. Chancellor Syverud is reviewing spending everywhere. Can SU afford to pay.

 

[Millhouse]

http://www.syracuse.com/news/index....sports_marketer_img.html#incart_river_default

SYRACUSE, N.Y. -- Syracuse University has terminated its multi-million dollar agreement with the sports marketing colossus, IMG.

The reasons are not clear. IMG's multi-media rights contract with SU had extended through the 2020-21 season.

The school sent a letter to sponsors last week, notifying them that SU's contract with IMG was terminated July 1. The letter said SU is exploring its sports marketing options, including partnering with another company, negotiating a new agreement with IMG, or doing the work itself.

in house lol

 

[Toga]

Trying to free up some salary for Jekelish.

 

[jekelish]

Trying to free up some salary for Jekelish.

I had to give this a like. Stupid athletics department budget crisis holding up any sort of progress.

(I'm going with that as the reason that my application has been met with deadly silence, damnit)

 

[OrangeXtreme]

I had to give this a like. Stupid athletics department budget crisis holding up any sort of progress.

(I'm going with that as the reason that my application has been met with deadly silence, damnit)

Clearly they're waiting on Lebron and Melo to decide first.

 

[MaxwellCuse]

I had to give this a like. Stupid athletics department budget crisis holding up any sort of progress.

(I'm going with that as the reason that my application has been met with deadly silence, damnit)

Athletics Dept. budget crisis?! Who are we? Rutgizzz?

 

[rrlbees]

Athletics Dept. budget crisis?! Who are we? Rutgizzz?

Not that bad but not good. But some people still want to quote Dept. of Ed. numbers or pay our players $1m/yr.

 

[Rocco]

Not that bad but not good. But some people still want to quote Dept. of Ed. numbers or pay our players $1m/yr.

Please clarify this... Dept of Ed numbers?

 

[rrlbees]

Please clarify this... Dept of Ed numbers?

The dept of education website that shows how much schools have in revenue and profits. I'm pretty sure it's a dept of Ed site that others have quoted. Though I don't know where they get the numbers from since as a private school SU doesn't have to report them.

 

[Cusefan0307]

They have to think they can get more revenue somewhere else. That is the only reason plausible. This contract was 15 years old, so it makes sense that it was outdated.

Odd considering they helped bail out McCullough and also represent Hop, but small change to what could be on the table.

 

[TheCusian]

Doc Gross is not an imprudent guy when it comes to this stuff. He's got an end goal in mind and it will involve more money somewhere.

Axe is trolling re: Chancellors cost cutting staff.

 

[rrlbees]

Axe is trolling re: Chancellors cost cutting staff.

Spellcheck may have gotten you but what do you mean here?

 

[GoSU96]

The dept of education website that shows how much schools have in revenue and profits. I'm pretty sure it's a dept of Ed site that others have quoted. Though I don't know where they get the numbers from since as a private school SU doesn't have to report them.

Yes they do.

 

[BlazeOrange]

They have to think they can get more revenue somewhere else. That is the only reason plausible. This contract was 15 years old, so it makes sense that it was outdated.

Yes, much has changed since then, both in terms of SU's situation and the industry as a whole. Axe's first quote could also imply that IMG wasn't particularly going all out to maximize revenue - could be because they wouldn't profit enough because of the outdated contract to justify using their top people or get creative, etc. IMG may have suggested starting from scratch rathter than revising the existing contract and SU decided they may as well open it up to others.

Or maybe making sure that IMG (or whoever) assigns the A-Team to maximize marketing/naming rights to a new stadium/upgraded (re-branded?) Carrier Dome?

Or maybe a stadium change wasn't addressed in the old contract and they want a re-do for the various contingencies.

 

[TheCusian]

Spellcheck may have gotten you but what do you mean here?

You're probably more plugged in than me, but it seemed like Axe was saying "ut-oh, we can't pay our coaches now and the new Chancellor is looking to save $." Seemed like worry for nothing. They will get a better deal, not less with IMG replacement - even if they do more in-house. Wouldn't be smart to have Boeheim and Shafer take pay cuts... Esp with ACC $ (even if that's a touchy subject on the hill with the academic side.)

 

[Toga]

You're probably more plugged in than me, but it seemed like Axe was saying "ut-oh, we can't pay our coaches now and the new Chancellor is looking to save $." Seemed like worry for nothing. They will get a better deal, not less with IMG replacement - even if they do more in-house. Wouldn't be smart to have Boeheim and Shafer take pay cuts... Esp with ACC $ (even if that's a touchy subject on the hill with the academic side.)

Well the school could save a half million a year by bidding adieu to Ken Shaw and the one course he teaches.

 

[Madbiker]

Maybe we should use whoever reps Louisville. Didn't they just get a massive payout deal?

 

[Full_Rebar]

I would guess SU is renegotiating with IMG. I don't think they have put forth a ton of effort to maximize revenue for SU. Can't see SU doing this in-house as that might mean Giansante and others would have to be in Syracuse more than 1/2 the time.

 

[baggerbob]

I'll wait and see, what this chancellor actually does, before I have any opinion. After all he is a Georgetown graduate, and sports might be an afterthought with him.

 

[rrlbees]

Yes they do.

Well if they do (and I've read elsewhere about private schools not having to report something...maybe it's salaries), the numbers are wrong or misreported.

 

[cliftonparksufan]

Or maybe making sure that IMG (or whoever) assigns the A-Team to maximize marketing/naming rights to a new stadium/upgraded (re-branded?) Carrier Dome?

Or maybe a stadium change wasn't addressed in the old contract and they want a re-do for the various contingencies.

I wonder how hard they have tried in the past to negotiate with Carrier to get their name off the dome. You would think they could make some good coin but reselling the naming rights. As great as the dome has been for what it cost 33 odd years ago, they definitely screwed up with the naming rights. Not for nothing but if I was the king I would get that to happen and also change the name back to the Orangemen. My only two requests.

 

[rrlbees]

You're probably more plugged in than me, but it seemed like Axe was saying "ut-oh, we can't pay our coaches now and the new Chancellor is looking to save $." Seemed like worry for nothing. They will get a better deal, not less with IMG replacement - even if they do more in-house. Wouldn't be smart to have Boeheim and Shafer take pay cuts... Esp with ACC $ (even if that's a touchy subject on the hill with the academic side.)

I didn't take it that way completely. There may be cuts to coaching salaries but I would think it would be in the non revenue sports.

 

[Toga]

Well if they do (and I've read elsewhere about private schools not having to report something...maybe it's salaries), the numbers are wrong or misreported.

I know not for profits in New York need to report the top (3-4?) salaried staff in the organization. Whether there is something above and beyond that, I don't know.