The Rugby Football League turned down previous offers to sponsor the Challenge Cup, executive chairman Richard Lewis revealed on Friday.
On-line betting companies were thought to be among those keen to back the game's prestigious knockout competition but the League have announced a ground-breaking six-year deal with Leeds Metropolitan University.
The competition will be known as the Carnegie Challenge Cup as part of the first partnership between a higher education institution and a national sports governing body.
Leeds Met have taken over from previous sponsors Powergen, whose backing came to an end last August after four years, and are thought to be putting between £6million and £10million into the game up to 2012.
"We turned down offers because they were not right for us," said Lewis. "This is perfect is every sense."
The cash input is not thought to be a record but the length of the deal sets a new benchmark for rugby league's high-profile knockout competition, which was first sponsored by tobacco company State Express in 1979.
"The partnership is both ground-breaking and unique in sport," said Lewis.
"The RFL believes it is highly appropriate as there is a great deal of synergy between our organisational values and the values of the sport of rugby league."
The university already sponsor the Carnegie World Club Challenge and have close links with Leeds Rhinos and the Headingley Carnegie Stadium.
As part of the new partnership with the university, the RFL's panel of full-time referees will be based at Carnegie and it is expected that Great Britain will make use of its facilities.
In addition, the university will take over as sponsor of the Champion Schools tournament, which has an entry of 400 teams so far, making it the largest rugby league competition in the world.
The university's vice chancellor, professor Simon Lee, believes the deal makes good business sense, claiming that the recent links with Headingley have resulted in a 12% increase in student applications.
"The 12 million TV viewers and the 90,000 at the new Wembley will learn more about Leeds Met Carnegie and that we share the values of the RFL in our commitment to a family sport that is deep rooted in communities but always pioneering," he said.
The university, which has 52,000 students, has an annual turnover of £150million.
The sponsorship deal was concluded in time for today's first-round draw involving amateur teams, in which Leeds Metropolitan University, the student champions, were handed a tough away tie against Wigan St Patricks.
All three service teams, the Army, RAF and the Royal Navy, received home ties while Thornhill Trojans, who played Super League club Catalan Dragons in the fourth round last season, were drawn at home to South London Storm.
The semi-professional clubs from the National League enter the competition at the third-round stage, with Super League outfits joining a round later.
St Helens will launch their defence of the trophy on the weekend of March 31, with the final set to return to Wembley on August 25.
No official announcement on the new national stadium has been made but Lewis said: "I was at Wembley last week and it is looking absolutely magnificent. I am certain the final is going to be there in August."
First round draw:
Rochdale Mayfield v Millom
Saddleworth v Halton Simms Cross
Thornhill v South London
Stanningley v Leigh East
Eccles and Salford v Blackbrook
Royal Navy v Waterhead
Siddal v York Acorn
Bradford Dudley Hill v Brighouse
Army v Leigh Miners
Eastmoor v Shaw Cross
East Leeds v Warrington Wizards
Wath Brow v Oulton, Seaton v Queens.
Heworth v Hull Isberg
Drighlington v Askam
Skirlaugh v Milford
Hull Dockers v Thatto Heath
Dewsbury Celtic v Ovenden
Crosfields v West Bowling
Egremont v Oldham St Annes
Normanton v Fife Lions
Wigan St Patricks v Leeds Metropolitan University
Ince Rose Bridge v Widnes St Maries
Hull Victoria v Castleford Lock Lane
RAF v East Hull
Bramley v Wigan St Judes
West Hull v Castleford Panthers.
Ties to be played on February 3-4.