Michigan State basketball won't change its name with Rocket Mortgage

Michigan State basketball is mortgaging its future on a sponsor. But it isn’t changing its name. The school announced a five-year deal Thursday with Rocket Mortgage to be the presenting sponsor of Tom Izzo’s program for the next five years. The initial release stated the team “will now be known throughout the Breslin Center as, ‘MSU Spartans Presented by Rocket Mortgage.’” That generated a number of reports the school would be using the sponsorship on references to the team. The backlash included a rebuke from Sen. Chris Murphy, D-Conn., who introduced legislation last month that would enhance college athletes’ ability to make money from their names, images and likenesses.”This is not a joke. I thought it was, but it’s not,” tweeted Murphy. “The corruption of college sports is vomit inducing. Coaches can sign million dollars endorsement deals. College teams are now NAMED AFTER CORPORATIONS. But god forbid we pay the athletes a dime. Because they’re ‘amateurs.’ “Michigan State released a statement Friday to clarify details of the deal, terms of which have not been announced.“While this is a new extension of the partnership for Rocket Mortgage with men’s basketball, this is not a first-of-its-kind sponsorship for the Spartans or a new concept in professional or collegiate team partnerships,” the school said in its release. “It is a presenting sponsorship of the Michigan State men’s basketball season, which is a common practice in both college and pro sports. This is nothing new for the school or the industry.”The deal essentially is a different level of sponsorship similar to other advertisements and promotions around Breslin Center. MSU and Rocket Mortgage have been sponsorship partners since 2015. Such agreements have come about due to MSU’s 2016 partnership for licensing and marketing with Fox Sports College Properties. For example, MSU Federal Credit Union is the presenting sponsor for the Spartans’ women’s basketball team. The deal with Rocket Mortgage, owned by MSU alum Dan Gilbert, begins with the 2021-22 school year and will enhance the visibility of the nation’s leading lender’s brand on radio broadcasts for both basketball teams, football and hockey as well as around Breslin with static and digital signage to logos on clipboards. The company had a similar agreement to place its logo on football coach Mel Tucker’s headset during the 2020 season, and it sponsored the Spartans’ Carrier Classic basketball game against North Carolina on Nov. 11, 2011. It also is another revenue stream for an athletic department projected to lose $75 million due to the COVID-19 pandemic.“Michigan State Athletics couldn’t compete at the highest levels without the support of our corporate partners like Rocket Mortgage,” MSU athletic director Bill Beekman said in a statement. “We are appreciative of Rocket’s continued commitment to the Spartans and their unwavering support of our programs.

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