FORT COLLINS, Colo.—Coca-Cola Refreshments and a northern Colorado university say they’ve reached a multimillion dollar deal that will provide scholarships, athletic money and a program for beverage management to students.
The Denver Post reported Friday Colorado State University netted a 10-year, $5.2 million deal with Coca-Cola Co. that makes the county’s largest soft drink company the exclusive beverage provider at the university. The school’s beverage contract with Pepsi recently expired.
University officials say recent state budget cuts to higher education forced them to approach new ideas for funding. About $100,000 a year is for athletics while $40,000 of the academic money will start the Beverage Management Institute at the business school.
Coca-Cola Co. officials say the academic capital is aimed at scholarships focusing on water stewardship and conservation.
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Information from: The Denver Post,
