Nebraska Athletics fails to come to terms with JMI Sports
LINCOLN, Neb. (KLKN) – Nebraska Athletics has failed to come to terms on a long-term multimedia rights agreement with JMI Sports LLC.
Athletic Director Trev Alberts made the announcement on Twitter on Thursday.
Nebraska Athletics and JMI Sports were both unable to come to an agreement on the final terms of the contract, according to the statement.
“We don’t anticipate bringing any additional proposal from JMI forward but will continue to evaluate short and long-term options for our multi-media rights,” Alberts said.
JMI Sports is a multimedia rights partner to intercollegiate athletics programs seeking new solutions, innovative opportunities, and true partnership, according to their website.
— Nebraska Huskers (@Huskers) March 31, 2022
JMI Sports’ CEO Erik Judson also released a statement today:
“After an accelerated negotiation period to complete a $215 million multimedia rights agreement with a $200 million guarantee, the University of Nebraska and JMI Sports were unsuccessful in reaching an agreement that delivered necessary assurances each party needed for the partnership to be successful. Given that we could not resolve all important contract language within the designated time frame, Nebraska Athletics has decided to end the negotiations. Trev Alberts and his team are exceptional people who are true professionals that care deeply for the University of Nebraska. It was our great pleasure working closely with them to bring this partnership to fruition. The University of Nebraska is an incredible institution with a brand and athletic history in the top tier of college athletics. It is our hope that JMI Sports has a chance to reengage with Nebraska Athletics in the future.”