The NCAA and CBS have found their first "Corporate Champion." The television-rights partners recently announced the selection of The Coca-Cola Company as the NCAA's first corporate champion that will support and advance the NCAA's mission and values.

Coca-Cola will pay CBS more than $500 million for the 11-year marketing and media package. The deal is the first of its kind under the NCAA's new $6 billion bundled-rights agreement with CBS, whereby revenue from corporate champion agreements offsets CBS' purchase of the rights fees from the NCAA. Projected NCAA revenue for the duration of the CBS contract is not affected by this agreement.

The agreement with Coca-Cola includes beverage (for example, soft drinks, juices, water, isotonics), marketing and media rights to 87 NCAA championships, including the Division I Men's Basketball Championship. This includes an extensive advertising buy on the network telecast of the tournament. The marketing rights will be administered by Host Communications, Inc., a subcontractor with CBS.

"Our goal going into our new NCAA relationship was that a few select companies would see the enormous value in a comprehensive and integrated arrangement with CBS and the NCAA," said CBS Sports President Sean McManus. "With their longstanding commitments to the highest quality sporting events in the world and the quality of their worldwide branding efforts, The Coca-Cola Company is the perfect fit."

NCAA President Cedric W. Dempsey said Coca-Cola's participation in the NCAA corporate champions program defines the company's year-round commitment to supporting the academic and athletics endeavors of NCAA student-athletes.

"This represents a new era in college sports," Dempsey said. "Coca-Cola's national and international promotional and marketing experience and expertise will help bring the excitement of intercollegiate athletics closer to the supporters of college sports on all levels."

Coca-Cola will receive rights to use the NCAA marks nationally and internationally; will support the NCAA's championships in 22 sports through advertising, promotional initiatives and marketing programs; and will participate in on-site activities at numerous NCAA championships. Being a corporate champion also means that Coca-Cola will align its promotions to support NCAA brand attributes, including higher education, sportsmanship, leadership, excellence, tradition, diversity and high-caliber competition.

This is the second time The Coca-Cola Company has been involved as an NCAA corporate partner. The company was the NCAA's official beverage sponsor from 1986 through 1994. Pepsi signed a five-year deal as a corporate partner with the NCAA in 1995.