IMG College brokers University of Florida apparel deal with Fanatics
The US college sports teams of the University of Florida have signed an agreement with Fanatics, the online sports apparel retailer, to become their apparel partner for licensed merchandise, in a deal negotiated by IMG College Licensing, the university’s long-term licensing agency.
Fanatics is reported to have beaten off rival bids from at least four other collegiate licensees to win the contract.
The deal, which begins in 2020 and runs for 10 years is believed to be similar to one that Fanatics signed last month with Oregon to manufacture and distribute apparel. That deal was worth a $1.5-million signing bonus and a $2.15-million annual royalty guarantee.
Scott Stricklin, the Florida athletic director, said: “The reach of Fanatics has grown to the point where they not only benefit from our brand, but we can benefit from their brand. The opportunity they give us to understand our customer base, through their analytics, is also really valuable in terms of knowing who and where our fans are.”
Under the agreement, IMG College Licensing will continue to manage the Gators’ trademark licensing programme, as it has for the last 23 years.
Last month, the Football Association, soccer's governing body in England, announced a five-year licensing deal with Fanatics which was granted the rights to manufacture official merchandise and partner products across a range of categories.
It will also operate the official online England store, www.englandstore.com, and run all physical retail sites at Wembley Stadium.
Fanatics signed a similar deal with the DFB, the German soccer federation, in October, and also counts major clubs such as Real Madrid, Manchester United, Manchester City and Chelsea as clients.