West Virginia University is guaranteed $4.1 million in royalties in the first year of its new 12-year deal with IMG College for multimedia coverage of certain athletic events.
North Carolina-based IMG will pay at least $86.5 million through 2025, and another $105 million over the next decade if the contract is renewed.
Details are spelled out in documents the Charleston Daily Mail obtained with a Freedom of Information Act request.
WVU also gets a $5 million signing bonus — $3 million of which will be paid by June 16, 2014.
WVU awarded the contract on its second try July 11.
It was forced to rebid the contract after a review by the state attorney general’s office found “significant errors and sloppiness” in how the first deal was crafted.