Texas Tech signed a 15-year, $75 million naming rights agreement with Galaxy, an enterprise AI software company, replacing Jones AT&T Stadium after four decades. The deal pays the Red Raiders $5 million annually through 2040 and renames the 60,862-seat facility in Lubbock.
Galaxy, headquartered in Austin, develops workflow automation and machine learning tools for mid-market enterprises. The company raised a $120 million Series C in September 2023 at a $640 million valuation, led by Sequoia and Andreessen Horowitz. Texas Tech is Galaxy's first major sports property. Jones AT&T held the rights since 2000 under a deal that paid roughly $2 million annually in its final years, according to a person familiar with the arrangement. AT&T declined to renew when the contract expired in December.
The $5 million annual figure places Texas Tech in the middle tier of Big 12 stadium naming inventory. Oklahoma State's Boone Pickens Stadium operates without a corporate sponsor but benefits from $165 million in athletic department gifts tied to the late oilman's name. Kansas State signed a $50 million, 12-year deal with TDECU in 2022, worth $4.2 million per year. Texas Tech's rate exceeds both on a per-year basis and signals pricing power in secondary college football markets when the buyer is a growth-stage tech firm seeking brand awareness in Texas recruiting corridors.
The timing matters for two reasons. First, Galaxy is raising a Series D round expected to close in Q2 2025, according to two people briefed on the process. A college football stadium in a state with 30 million residents and loose employment non-competes is cheaper customer acquisition than a Super Bowl spot and runs longer. Second, Texas Tech's athletic department carried $22 million in deferred maintenance on Jones AT&T Stadium as of the most recent audit. The naming windfall doesn't directly fund capital projects under NCAA accounting rules, but it frees budget capacity for the Big 12's upcoming $380 million annual media deal, which pays each school roughly $31.7 million starting in 2025. Athletic director Kirby Hocutt told boosters in a December meeting that the naming deal would fund two new assistant coach roles and an additional recruiting analyst, per a source on the call.
The Galaxy deal also suggests telecoms are exiting second-tier college naming inventory. AT&T ended its Texas Tech relationship, Verizon walked away from Syracuse's Carrier Dome extension talks in 2023, and CenturyLink rebranded Boise State's stadium to Albertsons Stadium when the grocery chain bought rights in 2014. The replacement capital is coming from private equity-backed software firms, sports betting platforms, and cryptocurrency exchanges. Galaxy fits the pattern: venture-funded, growth-mode, targeting enterprise buyers in Texas, Arizona, and the Southeast, where college football offers better reach than LinkedIn ads.
Texas Tech opens Galaxy Stadium on August 30, 2025, against Abilene Christian. The university is negotiating a separate $8 million videoboard upgrade with Daktronics, expected to close by June, according to a filing reviewed by the Lubbock Avalanche-Journal. Galaxy's logo will appear on the 50-yard line, replacing the Jones AT&T wordmark, and the company will receive 120 season tickets and a suite on the east side.
Galaxy's Series D roadshow begins in April. The company is pitching a $1.2 billion post-money valuation. The stadium deal gives Galaxy a quantifiable brand lift metric to show investors: 4.2 million TV viewers watched Texas Tech's six home games in 2024, per Nielsen. That's 63 million impressions over 15 years if viewership holds flat, or roughly $1.19 per impression. Facebook charges B2B advertisers $8-12 per thousand impressions in comparable demos. The math works if you're raising another $200 million.
The takeaway
Tech replaces telecom in college naming rights, with Galaxy paying **$5M**/year for Texas exposure ahead of a **$1.2B** valuation Series D.
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