George Mason, Coca-Cola Negotiate $4-Million, Five-Year Contract
Posted: May 23, 2000 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am
By Patty Snellings
George Mason and Coca-Cola have agreed on a $4-million, five-year contract to provide beverage concessions at all three campuses. The new contract represents a $1 million increase over the previous agreement and provides an estimated annual return of $800,000 to the university in the form of capital improvements, vending proceeds, and marketing endeavors.
The contract, already in effect at the Fairfax Campus, begins July 1 at the Prince William and Arlington Campuses. The company has been the official beverage supplier for the university for approximately 20 years, according to John Spaldo, director and chief operations officer of University Services.
Over the five-year period, Coke will invest $240,000 in dining and vending equipment, including $10,000 for a concession trailer to be used at athletic and other outdoor events. During each year of the contract, proceeds from vending commissions, estimated at $235,000, along with $295,000 in direct support from Coca-Cola, fund athletic and academic scholarships.
George Mason also enjoys lucrative marketing support from Coca-Cola during the contract period. For the first time, Coke is pledging $40,000 to support radio advertising for the university, as well as providing additional funding for university advertisements on its trucks and in university publications.
“Coca-Cola has provided thousands of dollars in scholarship support to hundreds of George Mason students over the years. We look forward to this new five-year agreement that will continue the strong tradition of their support for education and the mission of George Mason,” says Spaldo.