Rutgers' athletic department has called a press conference for Tuesday afternoon to announce a naming-rights partnership for their football stadium. According to the New Jersey Star-Ledger. the school has reached a 10-year, $6.5 million agreement with High Point Solutions for the rights. High Point Solutions is a New Jersey-based networking hardware supplier, and has already become an IT partner for the New Jersey Nets' new arena in Brooklyn. After the school announced the press conference, athletic director Tim Pernetti spoke briefly about the deal. "It's really exciting," Pernetti told media at the Greg Schiano Charity Golf Classic. "I think given the economic climate, which is challenging in everything people face nowadays, we're thrilled to be able to get something done."
Pernetti declined to officially name the company, or give any details regarding the reported 10-year deal. Rutgers Stadium was built in 1938 and renovated in 1994. In 2008 and 2009 Rutgers underwent a two-phase, $102 million expansion to increase the capacity to 52,454.
The move would be considered a win for Pernetti, who took over the job in April 2009. In 2008, it was reported that Rutgers officials were seeking between $1.5 and $2 million for the naming rights to the stadium. With the renovations done and new leadership in place, it is not surprising that Pernetti is excited to announce his new deal.
