WAYZATA, Minn. & MINNEAPOLIS--(BUSINESS WIRE)--TCF Financial Corporation (NYSE:TCF) (“TCF”) and the University of Minnesota announced an amended sponsorship agreement for TCF Bank Stadium that immediately invests $8 million in the University’s Athletes Village, a transformative project to modernize athletics facilities and deliver a first-class collegiate experience for all current and former Gopher student-athletes. The amendment also provides the University with $541,000 in additional revenue over the remaining term of the agreement.
In 2005, TCF entered into a 26-year, $35 million sponsorship agreement with the University to support Gopher Athletics and the construction of TCF Bank Stadium. Under terms of the amended agreement, pending approval from the University’s Board of Regents on Friday, TCF also has secured an option to extend its sponsorship and the naming rights for TCF Bank Stadium for another 10 years through 2040 season. Exercising this option includes a $4 million initial contribution to the University.
In recognition of TCF’s long-time support of Gopher Athletics, the University has agreed to place a field mark, denoting the stadium name, on the playing field and the TCF logo just outside the field of play. In addition, a newly designed logo will appear on stadium scoreboards and in other locations throughout the facility beginning in 2018.
“TCF has been an incredibly generous and supportive partner to our University and our athletics department for many years, and today’s announcement is another significant milestone in that partnership,” said Gopher Athletics Director Mark Coyle. “By contributing to Athletes Village, TCF is making a positive impact in the lives of every Gopher student-athlete and is helping our department fully fund this critical project through private contributions. I’m excited to continue our collaboration with TCF and keep the name of a great Minnesota company on TCF Bank Stadium, our community’s premier open-air sports and entertainment venue and one of the cornerstone facilities on our University’s Twin Cities campus.”
TCF has a long tradition of supporting the University’s academic and athletics missions. Beyond sponsoring TCF Bank Stadium, TCF has provided $1.4 million in scholarships over the past 14 years to support the academic interests of students. TCF’s partnership also has enabled the University to deliver high-quality student services that enhance the campus experience.
“We are proud of TCF’s role in bringing Minnesota football back to campus and the many benefits that young men and women receive through our partnership and support of Gopher Athletics and student services,” said TCF Chairman and Chief Executive Officer Craig Dahl. “Our $8.5 million contribution to the Athletes Village further reinforces our commitment to helping the University provide student-athletes with the resources they need to be successful on the field and in life. Through our naming rights agreement, we ensure that TCF Bank Stadium remains an outstanding facility that serves the needs of not only the University, but the broader community as well. We believe strongly in supporting the communities where we do business and TCF Bank Stadium is an outstanding facility that plays host to some of the most important athletic, entertainment and cultural events that make our hometown a great place to live.”
New field marks denoting the stadium name will appear during the Gophers’ September 16th home football game against Middle Tennessee State. A new stadium logo will be unveiled prior to the 2018 football season, and will be designed to appear on the stadium’s scoreboards and other prominent locations.
TCF is a Wayzata, Minnesota-based national bank holding company. As of June 30, 2017, TCF had $22.1 billion in total assets and 321 bank branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona and South Dakota, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada.
About University of Minnesota
At the University of Minnesota, curiosity and discovery are in our DNA. Located in the Twin Cities of Minneapolis and St. Paul, the University’s Twin Cities campus provides a thriving urban environment for teaching and learning, world-class research, and outreach and public engagement. Founded in 1851, the University is committed to engaging Minnesota, national and global communities via its five campuses to advance interdisciplinary knowledge; enhance students' academic, civic, career, social and personal development; and apply intellectual and human capital to serve the public good.
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