Ripple Partners with Florida Football Team
Florida has announced a multiyear sponsorship deal with Ripple, which will generate $5 million annually. The deal involves placing XRP logos on Florida Field, starting with Saturday's game against Florida Atlantic. Ripple is a provider of blockchain solutions across traditional and digital finance. Its XRP cryptocurrency allows for fast and low-cost money transfers.
The partnership between Florida and Ripple aims to introduce the latter's technology to fans and provide financial and technology education to student-athletes and the campus community. This marks one of the first deals with a college football team, following the NCAA's allowance of corporate ads on college fields in 2024. Universities are facing increased financial strain due to the NCAA vs. House settlement.
The annual payment is $5 million, according to a person familiar with the negotiations. Ripple will also support education initiatives for students and faculty, covering both traditional finance and digital assets. This partnership brings together two organizations that think boldly about the future, as described by Florida athletic director Scott Stricklin.