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Ralphie takes to the field during the CU vs. Sacramento State game at Folsom stadium on September 8, 2012. (Photo by Glenn Asakawa/University of Colorado)

BOULDER — The University of Colorado has signed a partnership deal with a Denver-based sports betting operator.

The five-year corporate sponsorship with PointsBet was negotiated by Learfield IMG College, the media rights holder for Buffaloes athletics. PointsBet will have signage at Colorado’s football stadium and basketball arena and ads on radio broadcasts and other media.

The deal also includes support for the athletic department’s Scripps Leadership and Career Development program, which helps prepare student-athletes for their post-playing days.

The partnership comes at a time when athletic departments are seeing big drops in revenue during the coronavirus pandemic.

PointsBet recently broke ground on a new North American headquarters in downtown Denver, and legal sports betting went live in Colorado in May.

MORE: With big sports back, Colorado’s betting scene exploded with $59 million in pent-up wagers

In a statement, athletic director Rick George said he was impressed with PointsBet’s “commitment to raising awareness around responsible gaming. And we’re particularly excited whenever we can partner with sponsors who call Colorado home.”

“It is an honor to become a partner of the Colorado Buffaloes, where we look forward to bolstering general sports betting knowledge and responsible gaming awareness while recruiting some of the best and brightest minds to help install a foundation for prolonged success,” said Johnny Aitken, CEO of PointsBet’s U.S. operations.

Earlier this month, PointsBet announced a similar sponsorship deal with Kroenke Sports & Entertainment, making PointsBet the exclusive partner of the NBA’s Denver Nuggets, NHL’s Colorado Avalanche, National Lacrosse League’s Colorado Mammoth and the Pepsi Center.

The Associated Press