Report: Indiana entering field-naming agreement with Merchants Bank for $50 million

Since 1971, Indiana football has referred to its home venue as Memorial Stadium. That will change this year. On Thursday, IndyStar‘s Zach Osterman reported Indiana is entering into a field-naming agreement with Merchants Bank and will be called Merchants Bank Field at Memorial Stadium moving forward.

IndyStar understands Merchants Bank will pay Indiana $50 million over 20 years as part of the agreement,” Osterman wrote. “Exact terms, including the structure of payment across the life of that agreement, were not immediately available.

“As part of the partnership, Merchants Bank Field at Memorial Stadium will be prominently displayed on the Memorial Stadium field beginning with IU’s 2025 home opener Aug. 30 against Old Dominion… IU spent a year exploring potential opportunities, before settling on this partnership with Merchants Bank.”

This story will be updated.