MORGANTOWN, W.Va – West Virginia University’s quest to stay financially competitive in college athletics continues as rule changes and rising costs affect sports constantly.
The most recent investment comes in the form of the university’s first jersey patch sponsorship, agreeing to a five-year deal with energy company Antero Resources. Antero’s logos will appear on the jerseys of all 18 WVU varsity sports over the contract’s span.
WVU director of athletics Wren Baker counts it as the latest in a chain of decisions to keep the Mountaineers in the top tier.
“The need to grow resources at the highest levels of intercollegiate athletics has grown exponentially, and we’ve grown our budget by probably 50 percent or better over the last four years and are going to need to stay on that kind of growth trajectory,” he said on MetroNews Talkline.
Baker points to energy production’s status as a key component of West Virginia’s economy as an important factor in partnering with Antero. He believes the mutual benefits can help both parties significantly.
“Being able to partner with Antero and highlight what our state brings to the table in terms of energy production and what Antero is already doing in our state, we felt was the perfect partnership,” he said.
The jersey patch agreement also marks another partnership between WVU and the state’s energy producers. Baker found upon arrival in Morgantown that the university’s athletic department only drew about $1 million annually from the energy sector.
With the new Antero deal, the sale of the former WVU Coliseum’s naming rights to Hope Gas, and other partnerships, he reported that number now exceeds $10 million.
“The energy sector, which is a big part of West Virginia’s economy, has been a focus of ours. As we’ve had to grow our resources, they’ve been a big part of that, and as we look into the future, we’re going to continue to need that sector,” Baker said.
WVU’s search for new revenue streams does not end with the jersey patch sponsorship by any measurement. With the cost of doing business in college sports skyrocketing, the new money coming in is just as quickly going right back out.
“Through new scholarships and through rev share and above-cap NIL agreements with our student athletes, probably $40 million of that is going straight to acquire and retain competitive rosters,” Baker said.
The Antero Resources patches will appear on WVU jerseys beginning this fall sports season.