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University of Phoenix ending Cardinals stadium sponsorship

Posted at 2:49 PM, Apr 11, 2017
and last updated 2017-04-11 17:49:49-04
The Arizona Cardinals are looking for a new naming-rights partner for their stadium.
The team announced Tuesday that the University of Phoenix wants to ends its 20-year sponsorship with about nine years remaining on the contract.
The University of Phoenix won the naming rights in 2006. The $154.5 million deal paid the Cardinals an average of $7.7 million per year.
Apollo Education Group, the parent company for the University of Phoenix, has been hit with declining enrollment and regulatory scrutiny in recent years.
Ron Minegar, the Cardinals' executive vice president and chief operating officer, says talks already are underway with a potential new naming rights partner.
He says the University of Phoenix will keep its name on the stadium until a new sponsor is found.