Indiana cashes in on recent success with $50M naming rights deal for stadium

BLOOMINGTON, Ind. (AP) — Indiana's remarkable run to last year's College Football Playoff has helped the athletic department land a new 20-year, $50 million naming rights deal with Merchants Bank.

The stadium will be renamed Merchants Bank Field at Memorial Stadium, and the bank name will be featured prominently on the field and around the stadium when the 20th-ranked Hoosiers host Old Dominion in their Aug. 30 season opener.

The announcement was made Thursday.

The deal also includes a commitment from the bank to provide comprehensive financial literacy training for current and future student-athletes for no cost. It's designed to help them navigate the new world of college sports, such as revenue sharing and NIL deals.

Cignetti led Indiana to a historic year in his first season as Indiana's coach. He won a school record 11 games and helped the Hoosiers earn their first playoff bid. Indiana's only losses came on the road against national championship Ohio State during the regular season and Notre Dame, which beat Indiana in the playoffs before falling to the Buckeyes in the championship game.

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