January 20, 2007
Are Sports Naming Rights Getting Too Costly?
A recent post on Population Statistic notes that the recent $300+ mil Barclays Center naming agreement — which I wrote about yesterday — is part and parcel of a surge in pricey naming rights deals that have included Citi Field (MLB Mets/$20mil per year) and the Prudential Center (NHL Devils/$105 mil).
I’ve written about stadium naming before, but these numbers bear a second look.
Fans may breathe a sigh of relief when they learn that, for instance, Yankee Stadium will not get a corporate name, but far more fans are holding their breath hoping for a corporate blessing so their teams can survive another year.
It’s easy to joke about the proliferation of corporate stadium names out there but the fact is, companies seek out these naming deals because they are great ways to get a brand name in front of a captive, excited audience.
As the writer on Population Statistic points out, naming a new stadium after your company is worth the extra expense because it's virgin territory — there is no chance your brand name will face dilution with the former one. This gives your brand pure DNA and a close association with a beloved team and its victories.
My predication is that we can look for more high profile deals of this nature because it's hard to think of another way to get 40-80,000 potential customers in a targeted area looking at your company name for two to three hours at a time week after week, not to mention the exposure on TV.
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