Business Challenge:
Georgia Tech’s existing multimedia rights (MMR) contract with Learfield IMG was concluding, so the Institute wanted to evaluate potential options to either bring the rights to market or bring the rights in-house.
Solution:
Navigate guided Georgia Tech through an evaluation and bidding process for its multimedia rights, as well as other possible area that Georgia Tech may want to outsource. After conducting a thorough valuation of its media rights inventory to understand Georgia Tech’s fair market value, Navigate vetted a wide range of interested parties in bidding on Georgia Tech’s rights. Upon receiving formal and informal offers, Navigate evaluated the financial impact of each, provided analysis and recommendations, and facilitated negotiation until a term sheet was signed with the agreed party.
Result:
Georgia Tech elected to outsource its rights to Legends in a new ten year deal that includes not only MMR, but also assistance with ticketing, fundraising, and other important initiatives
