Ripple Signs Multiyear Sponsorship Deal with Florida Gators Worth $5M Annually
Florida Gators football fans will see a new logo at their games starting this weekend. Ripple, a provider of blockchain solutions across traditional and digital finance, has signed a multiyear sponsorship deal with the university that includes placing XRP logos on Florida Field.
The deal is reportedly worth $5 million annually, according to a person familiar with the negotiations. The partnership will also bring digital properties and event signage to the stadium, as well as support financial and technology education for student-athletes and the campus community.
Ripple's cryptocurrency, XRP, is designed to move money in seconds at a fraction of the cost of traditional banking. Athletic director Scott Stricklin said that Florida has a long history of embracing innovation and technology, and this partnership 'brings together two organizations that think boldly about the future.'