Texas Tech athletics and longtime partner Learfield on Friday, Nov. 20, jointly announced an extension that will put a new LLC for business development and Learfield Impact NIL services and staff directly into the athletics department .
The purpose is to significantly increase revenue from corporate sponsorships and expand athletes' name, image and likeness opportunities .
The announcement called it "a groundbreaking new approach that will reshape and enhance its relationships with corporate partners for the next decade."
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"Texas Tech Athletics Partners LLC will unlock additional sponsorship and revenue opportunities moving forward," the announcement said, "specifically in the areas of premium spaces for athletic facilities and through on-field logos, uniform patches and stadium naming rights. A new elite partnership tier, the Double T Circle, will also debut, featuring two inaugural premier partners, adidas and Coca-Cola. The Double T Circle will offer premium sponsorship opportunities as well as exclusive access with Director of Athletics Kirby Hocutt and Red Raider coaches."
The extension runs through 2037, Tech senior associate athletics director Robert Giovannetti said.
"Texas Tech is the new face of college athletics, and this innovative extension secures our position as a national leader for years to come," Hocutt said in the announcement. "Learfield's investment in Texas Tech athletics and its foresight to see where this athletics program is heading fully recognizes our potential to lead in this new era of intercollegiate athletics. This partnership is only going to expand moving forward, providing significant benefits for our corporate partners, fans and most importantly, our student-athletes."
Learfield said it plans to develop more sponsorship inventory opportunities through upgrades in video displays, ribbon boards and creative content.
The two parties said Learfield's investment will allow Tech to construct additional office and creative content space on the third floor of the Ed Whitacre Center for Athletics Administration. The Tech Athletics Partners team is expected to operate out of there. Currently, Red Raider Sports Properties, the local Tech Learfield affiliate, is off campus.
"After partnering for nearly two decades and navigating significant changes in the world of college athletics, Kirby and his team were clear about the future direction for Texas Tech to drive revenue growth," said Andrew Wheeler, executive vice president of Learfield Sports Properties. "Our alignment and clear strategy perfectly complement their aggressive plans. It's a bright future for Texas Tech athletics, and Learfield is thrilled to continue delivering our suite of industry-leading resources to power the new era of college athletics."
This article originally appeared on Lubbock Avalanche-Journal: Texas Tech athletics, Learfield announce extension, new venture

