EUGENE (AP) — The University of Oregon and IMG College have agreed to a 10-year contract that will net the university $67.1 million from local broadcast rights, advertising, signage, sponsorships and promotions.

IMG College is one of the country’s largest sports, media and entertainment companies. It will work with the Oregon Sports Network, and the two companies will combine to market Oregon sports to local and national sponsors.

It’s an arrangement once handled by ESPN Regional, which first contracted to manage media rights for the Ducks in 1999. ESPN Regional left that business a year ago and the Oregon Sports Network took over sole management of media rights.

The university got $2.15 million from OSN last year. The new contract will pay a guaranteed $3.2 million in the first year plus a 50-50 split of all profits above $6.5 million. The guaranteed annual payment increases each year before hitting $7.6 million in 2017-18.

The university is seeking legislative approval of its plan to borrow $200 million to build a new basketball arena. Kilkenny said this contract will bring in enough to cover the advertising and sponsorship revenue estimates in the arena financial analysis done by the consulting firm CSL.

The university also plans to build a $15 million baseball stadium, and the deal announced Tuesday includes a guaranteed $2.5 million for naming rights — to the field, not the stadium.

“We’re just finally recognizing all the hard work and investment that we made building what I think is one of the special athletic programs in America,’’ athletic director Pat Kilkenny told The Register-Guard newspaper. “That’s an incredible commitment for a long period of time, and smart business people don’t do that unless they feel the value’s there. It makes us feel really good about our future.’’