Boston, MA 04/29/2014 (wallstreetpr) – Education services provider DeVry Education Group Inc (NYSE:DV) becomes the official education partner of the National Football League. The deal will see the company provide education to players, coaches and even other professionals that served in NFL teams. The latest deal allows the players to enroll for academic courses at DeVry University at reduced tuition cost.
The education deal with NFL also extends the tuition waiver benefits to the spouses and children of the players.
Partnering with sporting organizations to improve enrollments or create interest in certain courses is commonplace in the for-profit education sector. The public tends to take a keen interest in the professional and academic life of athletes. Therefore, partnering with sporting organization for education purposes should lead to multifold benefits for DeVry Education Group Inc (NYSE:DV).
For example, the company will help the players to gain skills that are important for their continued earnings even in retirement. The positive gesture of providing discounted education to sports champions would be able to attract many more students to the college. Moreover, enroll of legends its colleges might also create interest among many sports enthusiasts to join their legend in the university and other DeVry Education Group Inc (NYSE:DV) colleges.
DeVry Education Group Inc (NYSE:DV) has previously entered an almost similar deal to provide education to Winter Olympians. The company joined forces with the U.S. Olympic Committee in 2011 where it provided education to Olympic hopefuls at reduced tuition fees. In order to seek a repeat of partnership with sporting organizations, the company must have seen the benefit and the opportunity in education sponsorship arrangements with sports organizations.
Details withheld
DeVry Education Group Inc (NYSE:DV) that reported Q32014 revenue of $496 million did not disclose the finer details about its deal with NFL especially about the saving that the players would make under the sponsorship. Nonetheless, the deal is thought of as good enough to help the players make significant savings in their education.
Conclusion
DeVry Education Group Inc (NYSE:DV)’s performance in the latest quarter was encouraging as it showed an improving market condition. However, the company needs to attract more students to ensure improvement in revenue stream.
