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$1 million Coke contract benefits UConn
April 11, 1997
The Coca-Cola Bottling Co. has paid the University $1 million as part of a vending agreement that gives Coke exclusive soft drink vending rights at UConn campuses.
The five-year corporate sponsorship will benefit both academics and athletics. Of the total, $525,000, or $105,000 a year, will benefit academics.
"It's a good example of how academics and athletics can work together for the entire University," said Jeffrey Hathaway, associate director of athletics. "It's an exciting joint venture."
The money will benefit academic support, although its specific use has not yet been determined, said Peter McFadden, executive assistant to the president.
A check for $1 million was presented to the University during halftime of the March 1 men's basketball game.
As part of the agreement, Coca-Cola products will be widely available on campuses and its logo will be featured at athletic venues. The University will keep 36 percent of soft drink sales.
"We are proud to work hand-in-hand with President Austin in helping to enhance academic programs for all students and faculty at the University of Connecticut," said Lew Perkins, director of athletics. "We thank Coca-Cola for its continuing support and commitment to excellence in higher education."