Galaxy Digital has secured a 15-year naming rights agreement for Texas Tech Universitys football stadium, with the Lubbock venue now called Galaxy Stadium. The deal marks one of the most visible branding efforts by a cryptocurrency-focused financial services firm in collegiate athletics.
The agreement replaces the Jones AT&T Stadium name that had been in place for eight decades, making Galaxy Digital the first crypto-native company to secure naming rights for a major college football venue. The stadium, which seats over 60,000 spectators, is home to the Texas Tech Red Raiders football program.
Financial terms of the deal were not disclosed, but naming rights agreements for Power Four conference stadiums typically range from $5 million to $15 million annually. Galaxy Digital CEO Mike Novogratz described the partnership as an opportunity to build brand recognition in a key market and demonstrate the companys commitment to Texas, where it has a growing presence.
The deal makes Galaxy Digital the official digital assets partner of Texas Tech athletics, extending beyond the stadium naming to include sponsorship of other sports programs and campus initiatives. The partnership will also include educational programming around blockchain technology and digital assets for students and faculty.
The naming rights agreement reflects the increasing mainstream adoption of cryptocurrency brands in traditional sports and entertainment. Several crypto companies have pursued sports sponsorship deals in recent years, including Crypto.coms naming rights for the Staples Center in Los Angeles and various team sponsorships across professional sports leagues.
This article was adapted from Blockonomi. Read the original here.
