NC State explores selling naming rights to Carter-Finley Stadium

Raleigh's Carter-Finley Stadium, home of North Carolina State's football program, may have a new name in the future.

NC State Athletics has partnered with Independent Sports and Entertainment (ISE) to identify a potential naming rights partner, the university announced Monday.

The move comes as college athletic departments are expected to begin sharing revenue with athletes as part of a $2.8-billion court settlement with former athletes. The settlement could be approved in April, and schools could share $20.5 million with athletes starting next July.

It has sent schools scrambling to find additional revenue. NC State had total operating revenues of $121 million in 2023, according to its financial report filed with the NCAA.

"Those are the times we're in," NC State football coach Dave Doeren said Monday evening. "Athletic directors and athletic departments need to raise money with this new legislation and the amount of dollars that revenue sharing has put on their plates."

The athletic department announced its Pack Forward program earlier this year, revamping its football tickets, parking and donations program.

NC State athletics director Boo Corrigan said in August: "We've got to be creative in the way that we approach this, from finding new revenue streams to continuing to grow the pie."

NC State alumni who spoke with WRAL News said the current name is too iconic to change.

"You get attached to it," alumna Sheri Lent said. "You just want it to be Carter-Finley."

Tyler Orr, a fan of NC State football, prefers the traditional aspect of naming venues as tribute to significant figures.

"Carter-Finley's been around for a long time; changing the name would probably upset a lot of people," Orr said. "I'd keep it."

NC State athletics director Boo Corrigan said in August: "We've got to be creative in the way that we approach this, from finding new revenue streams to continuing to grow the pie."

Florida International University's director of sponsorship sales told WRAL News going beyond the traditional corporate sponsor helps stay competitive as athletic departments look for creative ways to generate money.

“Our conversations with our sponsors have shifted,” Alfred Caballero shared. “No longer is it about wins and losses on the field, it’s about all the events, concerts, benefits to community, the broader audience that’s now generated from all events we are bringing in.”

Caballero shared with WRAL News the year in a half long process of renaming a venue at FIU after entertainer Pitbull. By purchasing naming rights, the superstar pays the school more than $1 million per year for five years.

He said the partnership is financially beneficial for both parties.

“No longer is it just about football, now it’s about 10 different events, 10 different concerts that are going to happen throughout the year as part of our partnership agreement with Pitbull,” Caballero said.Carter Stadium opened on Oct. 8, 1966, after 22 months of construction with a capacity of just over 40,000. It was named after two brothers Harry and W.J. "Nick" Carter, two NC State graduates from Wallace who had success in the textile industry.

Less than a year later, Raleigh philanthropist A.E. Finley and Associates gave almost $300,000 for a field house and locker rooms. In 1979, the stadium was renamed Carter-Finley Stadium. The stadium has undergone several renovations and now holds 56,919.

Corrigan spoke to both families and said NC State received their "blessing." Corrigan said the Carter and Finley families will be kept informed of all potential options.

"It's very kind of those two families to allow him those opportunities," Doeren said. "It doesn't mean we have a deal in place yet. Those are things ADs have to do these days. You have to find ways to increase your cash in so that you have the ability to compete in this space. The courts say you've got to come up with X amount of dollars. They don't give you the dollars. You got to go find them."

North Carolina recently announced that it would consider putting additional corporate logos on its fields, stadiums and uniforms to generate additional revenue for revenue sharing.

Carter-Finley Stadium is adjacent to Lenovo Center, home of the Wolfpack's men's basketball team and the NHL's Carolina Hurricanes. The arena recently changed from PNC Arena to Lenovo Center. Before PNC Arena, it was known as RBC Center.

The Hurricanes are planning a $1 billion renovation project around the arena, which itself is undergoing a $300-million renovation.