Beauty brand Madison Reed shows belief in women’s sports with UConn basketball deal

Naming rights and NIL deals aren’t just reserved for football.

As schools hunt for new avenues to generate revenue after the House settlement changed the financial reality for athletic departments, more and more schools are turning to corporate sponsorships for their stadiums, fields and basketball courts.

UConn announced an agreement on Wednesday with beauty brand Madison Reed in a wide-ranging partnership that includes court-naming rights, NIL deals and career development opportunities. The terms of the deals were not disclosed, but a college industry source confirmed to On3 that the partnership is in the “well into multi-million-dollar range.”

Madison Reed’s founder and CEO, Amy Errett, is a UConn graduate. Madison Reed is sponsoring Gampel Pavilion and XL Center for the next three years, making the brand the first female-founded, grad-founded brand with court naming rights.

UConn stars also promoting Madison Reed

Along with the court naming rights, the company also revealed that UConn women’s basketball stars Paige Bueckers and Azzi Fudd will serve as long-term ambassadors and impact advisers for Madison Reed. Forward Ice Brady and freshman guard Morgan Cheli will work with the brand through an NIL agreement, Madison Reed announced. The players are already promoting Madison Reed’s newest product, ColorWonder demi-permanent hair color.

As part of their arrangement, the players will act as brand ambassadors and have agreed to wear Madison Reed color in their hair throughout the span of the deal.

“No matter who you are, where you come from, or what you do – from sports to business or cosmetology – women deserve the opportunity to work hard, show up unapologetically and be rewarded for their talents,” Errett said in a news release.

“We’re shining an overdue light on these incredible female athletes, creating opportunities for them to thrive on and off the court in the same way that is afforded to their male counterparts, and showing that the options are unlimited when you dare to work hard and focus on achieving your goals.”

Partnership makes sense for UConn, Madison Reed

There’s a long list of schools that have generated funds through naming rights of their courts and arenas. Some such as Maryland’s floor rights deal with Comcast Cable Corporation raised $5 million.

In addition, with the NCAA now allowing on-field sponsorships in and the future prospect of jersey patches, schools are examining naming rights opportunities in football. For example, on Tuesday, music mogul Pitbull purchased the naming rights to FIU’s football stadium for $1.2 million per year.

But the partnership at UConn is unlike many of the others because it’s all-encompassing and stretches beyond the court.

And the deal attaches itself to one of the biggest brands in the women’s basketball game – Paige Bueckers. Having her name involved with the agreement bolsters the exposure Madison Reed is getting from the announcement.

The 2021 National Player of the Year is widely considered to be the No. 1 pick in the 2025 WNBA Draft. Plus, the Huskies are one of the clearcut favorites to compete for the national championship this upcoming season.

Bueckers has an On3 NIL Valuation of $1 million, and she has a massive social media presence with more than 4.8 million combined followers on TikTok and Instagram.

“I’m huge on expressing myself in different ways,” Bueckers told Women’s Wear Daily after the deal was announced. “Being able to inspire the next generation of athletes and younger kids to be confident in expressing themselves in different ways, and not have to fit into a box — those are values I share with Madison Reed.”

Schools look to generate funds after House settlement

The infusion of cash generated from the deal with Madison Reed also comes at a key time for UConn.

Schools are rapidly looking for ways to generate funds to pay the multi-billion-dollar damages award, landmark revenue-sharing model and expanded roster limits created by the yet-to-be-approved House settlement.

And without a top football team, UConn tapped into its elite women’s basketball brand – the Huskies have won 11 NCAA championships – to pay the bill.