LEXINGTON — “We are very impressed with JMI Sports and excited to begin working with them,” Barnhart said. “Their work with many of our peers in college athletics and the experience of their team will make them an excellent long-term partner for UK Athletics and a valued part of the Big Blue Nation.”
UK will receive a guaranteed rights fee in each of the 15 years of the contract, starting at $9.1 million in 2015-16 and increasing to $16 million in 2029-30. The agreement also includes a $29.4 million signing bonus to be paid over the first two years of the contract. The signing bonus will help the university fund important capital projects.
Many friends of Stultz from Greenup were blowing up his Facebook page after the announcement was made on Monday morning.
He was in Ashland over the weekend to celebrate Don Gullett for his Sports Day recognition. Tom’s brother, Dave, was the speaker on Saturday.
Stultz graduated from Greenup High School where he was an outstanding baseball player that earned a scholarship to Miami of Ohio, where he played with Mike Schmidt.
Stultz began his career as a reporter with the Ashland Daily Independent in 1970 and he went on to own several newspaper publications. He has more than 40 years professional executive experience and has led public and private companies to record revenue and profit growth.
He has negotiated and secured more than $1.1 billion in multimedia and sponsorship rights with major universities.
Prior to joining JMI Sports in 2012, Stultz was senior vice president and managing director of IMG College’s multimedia rights business. Previously serving as president and chief executive officer of Host Communications, Stultz was instrumental in adding many top national collegiate properties, strengthening the company’s financial position before it was acquired by IMG in 2007.
Stultz and his wife, Pat, have two grown daughters and six grandchildren.