The University of Phoenix, the nation’s largest private university, will pay $154.5 million over 20 years for the right to put its name on the Arizona Cardinals’ new stadium in Glendale, team officials said Tuesday.
The naming-rights deal is the first sports-marketing venture for Apollo Group Inc., the University of Phoenix’s parent company, said Apollo President Brian Mueller, and is part of a major new branding campaign for the school.
“We are thrilled,” Michael Bidwill, the Cardinals’ vice president and general counsel said in a statement. “The new home of the Arizona Cardinals is distinctly Arizona, and so is our stadium partner.”