Lexington’s Central Bank will continue to be the “official bank” of UK Athletics through 2030, agreeing to pay $18.1 million in exchange for the use of UK Athletics logos in advertisements and to be the financial services sponsor of UK’s head coaches, plus assorted tickets.
The deal was negotiated with JMI Sports, which brokers all of UK Athletics sponsorship deals, as well as several on campus. For example, PNC Bank paid $8.6 million to become the “official bank” of the UK campus, including ATMs.
“As a local bank, extending this long-standing relationship underscores our support of academics, healthcare and athletics and the opportunities this partnership creates for the community,” stated Luther Deaton, Central Bank chairman, president and CEO. “We will continue to make these three areas a priority in our community outreach, and this partnership is another way to support that objective.”
Central Bank has been the bank of UK Athletics since 2009.
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In addition, Central Bank is the main bank for the Kentucky Medical Services Foundation, the $200 million billing arm of UK HealthCare, according to spokesman Jay Blanton. Deaton serves as a non-voting member of the UK Board of Trustees healthcare committee. UK HealthCare CEO Michael Karpf is on the advisory board of Central Bank.
Other benefits for Central Bank include endorsement rights for the coaches of UK football, baseball and men and women’s basketball coaches, and a sponsorship package across all sports that includes signage for all UK Athletics media conferences, sponsorship of the new press box at Commonwealth Stadium, and a “wide-ranging” presence across the UK Radio Network, various digital platforms and at VIP entertainment events. As part of the contract, the bank receives four football tickets, two men’s basketball tickets and four women’s basketball tickets.
According to a press release from Central Bank, this deal is separate from a previous gift of $7 million from Central Bank Vice Chairwoman Joan Kincaid and Central Bank for the Kincaid Auditorum at the Gatton College of Business and a hospital project.