Merchants Bank Of Indiana had long been interested in a partnership with Indiana University’s football program. But the Carmel-based company wanted to be associated with a winner before they formalized a deal.

Indiana’s 11-win football season and participation in the College Football Playoff in 2024 paved the way for that collaboration to come to fruition.

On Aug. 21, Merchants Bank and Learfield IU Sports Properties announced a $50 million, 20-year partnership that will brand Indiana’s playing surface as Merchants Bank Field. The stadium will be called Merchants Bank Field at Memorial Stadium effective immediately.

“If (Indiana football) were to have been 4-7 last year, we wouldn’t be standing here,” Merchants Bank CEO and Chairman Michael Petrie said. “I wanted to have a brand with

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