Evaluating sponsorship activities at elite intercollegiate sporting events has become critical to determining sponsorship effectiveness and maximizing the relationships between athletic departments and their corporate partners. The purpose of this study was to evaluate the sponsorship of an elite intercollegiate football program by analyzing the effects of the constructs of attitude toward the sponsor, goodwill, and fan involvement on consumer purchase intentions. In this study (N=394), there were 52% males, 77% Caucasians, and 71% percent of the participants ranging from 18-24 years of age. Purchase intentions served as the dependent variable while attitude toward the sponsor, goodwill, and fan involvement served as the independent variables. According to the multiple regression analysis, goodwill had the most impact on consumers’ intentions to support the corporate sponsors via purchasing behaviors. Although attitude toward the sponsor and fan involvement are important facets of sponsorship effectiveness, goodwill may be one of the keys to transforming avid fans into loyal consumers.