Somerset-based information technology provider SHI International Corp. agreed to acquire the naming rights to Rutgers Stadium in Piscataway.
The university did not disclose the financial terms, but NJ.com, which first reported the deal, said it is for seven years and that SHI will pay $1.25 million, increasing by $100,000 annually to $1.85 million in 2025-26.
NJ.com also noted that the previous rights owner, Sparta-based HighPoint, paid $600,000 per year.
“As we celebrate the 150th Anniversary of college football here at the Birthplace, we are delighted to partner with a company that shares in our Relentless Pursuit of Excellence,” Rutgers Athletic Director Pat Hobbs said in a statement. “This partnership will positively impact athletics, the university and the New Jersey community.”
Rutgers and Princeton played the first intercollegiate football game on Nov. 6, 1869 in New Brunswick. Rutgers won 6-4.
“Nearly 350 Rutgers alumni currently work at SHI, and more of our employees earned their degree at Rutgers than any other single college or university,” SHI President and CEO Thai Lee said in the statement. “With deep roots in New Jersey and influence felt around the globe, both SHI and Rutgers share a history, culture, and commitment to excellence that will make this partnership especially rewarding.”
The university helpfully noted that the name will be pronounced with the initials SHI. The stadium which seats more than 52,000 fans after a $102 million expansion, is home to Rutgers football and the men’s and women’s lacrosse teams.