SPORTS BUSINESS JOURNAL: Florida State to announce 10-year MMR partnership with Legends

Via Sports Business Journal

By BEN PORTNOY

In the ever-expanding search for revenue growth, Florida State has a new partner lined up.

FSU is set to announce a new 10-year multimedia rights agreement with Legends, AD Michael Alford and Legends President of College Mike Behan tell SBJ. An official announcement is expected Wednesday.

“It’s really the vision, where they’ve taken their company, following how successful they’ve been in other properties and growing those revenue streams,” Alford said of FSU’s decision in tapping Legends. “The biggest thing with Legends that I’ve found is they provide you solutions and they’re constantly going to assist you in guiding how you go about your daily business and how you grow your revenue streams.”

Legends has made significant plays in the college space in recent years, including MMR partnerships with Notre Dame, Miami and Georgia Tech. The FSU deal will be an expansion of an existing relationship between the two sides. The company supports premium seating for the $260 million renovation of Doak Campbell Stadium and manages hospitality for FSU athletics. The new deal will also include 10-12 staffers just in sponsorships — nearly double what previously existed.

Florida State previously worked with Learfield as its MMR partner.

“We’re aware the stakes are so much higher right now [in college],” Behan said. “Schools have to generate a heck of a lot more money. A lot of what’s historically been done, that may have worked in the past, but that’s really not what schools need going forward. There’s a lot of talk of professionalizing collegiate athletics and really focused on revenue generation and we feel like how our company is built and evolved over the years, it’s really set up perfectly for this opportunity right now.”

Revenue generation has become an increasingly prominent conversation around FSU in recent months. The school is locked in a lawsuit with the ACC stemming from, among other things, media revenues and the disparities between ACC member schools and those in the Big Ten and SEC. Senior school administrators in Tallahassee have also reportedly explored private equity investments, though those decisions aren’t necessarily imminent.

“When you look at the changing environment of the collegiate landscape, you have to look at what you can do to make up the difference to be able to support your student athletes at an elite level — and that’s looking at various new revenue streams that we haven’t looked at before,” Alford said. “I go back to our relationship [with Legends] on the premium sales side that we’re doing extremely well. We’ve had the best couple years we’ve ever had in concessions at [Doak Campbell Stadium] and throughout all of our athletic venues, and now [adding] the MMR side of things. We’re constantly going to be looking to be innovative in what we can bring to the table that makes sense for Florida State to drive those revenue streams.”

Sports Business Journal interview with Michael Alford, Vice President and Director of Athletics at Florida State, and Mike Behan, President, Legends

PRESS RELEASE: Florida State University Athletics and Legends Announce Long-Term Multimedia Rights Partnership

Florida State x Legends

Florida State University Athletics and Legends, a global premium experiences company, announced today a new 10-year multimedia rights partnership

This agreement expands the relationship between FSU Athletics and Legends. Legends also currently supports premium seating for the $260 million renovation of Doak Campbell Stadium and manages hospitality, including concessions, premium suites and clubs, and catering for FSU Athletics.

“This partnership between Legends and Florida State Athletics creates a dynamic collaboration between like-minded organizations at a time when the importance of alignment has never been greater,” said Michael Alford, Vice President and Director of Athletics at Florida State. “Together we can capitalize on a limitless array of new opportunities for revenue streams while also maximizing our potential in established avenues as well. This will enable us to meet the growing needs of our student-athletes while also maintaining financial stability for the services we provide in areas of fan engagement and experience.”

Legends brings a wealth of experience and expertise to the partnership, having established itself as a trusted partner for numerous marquee institutions that are leveraging the company’s best-in-class expertise in revenue generation and premium experiences.

“Florida State University is a forward-thinking institution that understands the importance of aligning revenue streams to position for success in the new collegiate landscape,” said Mike Behan, President of Legends College. “The recent NCAA settlement has further emphasized the need for universities to explore innovative ways to optimize their commercial potential. Legends is proud that FSU has entrusted our team to build on our partnership to capitalize on this opportunity and further solidify its position as a trailblazer in collegiate sports.”

As part of the partnership, Legends will collaborate closely with Florida State Athletics to enhance multimedia rights, including broadcasting, licensing, and sponsorship opportunities. The company has formed Florida State Global Partnerships and will build a resolute staff that will be integrated with the FSU Athletics team to drive success for the multifaceted partnership.

This is the latest partnership for Legends burgeoning college business, which includes multimedia rights partnerships with the University of Notre Dame, the University of Miami, and Georgia Tech. Legends provides leading universities, collegiate organizations, and events with an industry-leading, comprehensive service solution covering research, project development, premium ticket sales, sponsorships, food and beverage, merchandise, business intelligence, marketing, and philanthropic fundraising and engagement.