Hoosiers strike historic agreement as Memorial Stadium field gets new name
For the first time in program history, Indiana football will take the field on turf that carries a corporate name. As reported by Zach Osterman of the IndyStar, the Hoosiers have secured a $50 million, 20-year naming rights agreement with Merchants Bank of Indiana, marking one of the largest commercial partnerships in school history. Beginning Aug. 30, when IU opens the 2025 season against Old Dominion, Memorial Stadium’s field will officially be known as Merchants Bank Field at Memorial Stadium.
This deal comes at a critical time for college athletics, with schools seeking creative ways to manage rising costs tied to revenue sharing and NIL support for athletes.
Setting the Standard in the Big Ten
The agreement places Indiana alongside other Big Ten schools embracing on-field sponsorships. Penn State recently announced a $50 million deal of its own, while Washington’s $41 million agreement with Alaska Airlines showed how valuable these rights have become. Indiana’s decision reflects the NCAA’s rule changes in 2024 that opened the door for visible on-field sponsorships.
Merchants Bank’s Deeper Role in Indiana Athletics
Merchants Bank isn’t new to supporting IU. The Carmel-based institution has sponsored several IU men’s basketball players through NIL partnerships, including Trayce Jackson-Davis and Race Thompson. Now, their largest commitment yet extends to football. In addition to naming rights, Merchants Bank will fund free financial literacy training for student-athletes, giving them tools to manage NIL earnings and future finances.
Financial Relief and Future Growth
The $50 million deal provides much-needed stability for IU Athletics. The department has endured recent layoffs while balancing growing expenses tied to athlete compensation. Athletic director Scott Dolson has worked to trim costs and identify new revenue streams. This partnership also strengthens IU’s push to renovate Memorial Stadium, including upgrades to suites, press boxes, and infrastructure. With booster contributions often redirected toward NIL, corporate deals like this help fill the gap.
A Historic Season Adds Momentum
Timing is everything. IU’s breakthrough 11–2 campaign under head coach Curt Cignetti brought the program to its first College Football Playoff. That success, combined with a top-20 preseason ranking, created the perfect stage for announcing such a groundbreaking partnership. As Cignetti put it earlier this summer, “This year’s team has a lot of nice pieces. Now we’ve got to mold this group into a team.”
The Hoosiers will get their first chance to showcase that growth, and their newly named field, on Aug. 30 against Old Dominion in Bloomington.
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