University of Florida agrees to multiyear sponsorship with cryptocurrency firm Ripple

The short version

• The University of Florida announced a multiyear partnership with blockchain company Ripple to feature XRP logos on its football field.
• A person familiar with the negotiations reported the sponsorship is worth $5 million annually, though official financial details were not formally disclosed.
• Colleges are increasingly expanding on-field corporate sponsorships to fund student-athlete revenue-sharing obligations mandated by the NCAA v. House settlement.

Key facts

• The University of Florida entered a multiyear agreement with Ripple that places XRP cryptocurrency logos on Florida Field starting with the game against Florida Atlantic.[Associated Press]
• According to an anonymous source familiar with the negotiations, the partnership generates $5 million per year for the university.[Associated Press]
• The sponsorship encompasses digital properties, event signage, and financial and technology education initiatives for student-athletes and the university community.[Associated Press]
• The NCAA authorized commercial on-field advertisements in 2024 amid growing financial obligations from the NCAA v. House settlement requiring revenue sharing with student-athletes.[Associated Press]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Florida signs a multiyear deal with Ripple that includes cryptocurrency logos in the SwampAssociated Press