How much are naming rights to stadiums?

How much are naming rights to stadiums?

Stadium Name Sponsor Avg. $/Year
Alltel Stadium Alltel Corp. $620,000
American Airlines Arena American Airlines $2.1 million
American Airlines Center American Airlines $6.5 million
America West Arena America West $866,667

What do companies get for naming rights to stadiums?

Buying naming rights to a stadium will result in your getting repeated, free mentions of your business or product name on TV, radio and websites, and in newspapers and magazines when media outlets refer to the stadium. Your business name and logo appear in their photos and on camera in their news stories.

What are naming rights and why do venues sell naming rights?

Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of time.

How are arenas named?

Not too long ago, stadiums were typically named after the teams that occupied them (Yankee or Dodger Stadium) or individuals (Comiskey Park or RFK Stadium) or a geographical location (Anaheim Stadium).

How much did Gillette pay for naming rights?

The Gillette Stadium naming rights cost P&G $8 million a year over a 15-year contract. That is not a very rich deal, according to SB Nation. Citigroup Inc. (NYSE: C) paid $400 million over 20 years to name the stadium in which the New York Mets play.

How much does Gillette pay for naming rights?

Has a Super Bowl ever been played at Gillette Stadium?

Not only did it make headlines because it will be played in the New York media market for the first time (the stadium is actually in East Rutherford, NJ), it also marks the first time the Super Bowl will be played outdoors in a cold weather city. …

Who has the naming rights to Gillette Stadium?

Procter & Gamble
Procter & Gamble and The Kraft Group have announced an extension to their strategic marketing and business partnership that includes exclusive naming and sponsorship rights of Gillette Stadium until the 2031 NFL season.

When did they start selling stadium naming rights?

The practice of selling stadium naming rights in professional sports to corporations experienced a second renaissance in the late 1990s and early 2000s with the “dot com boom,” in which there was a need for a single-use stadium rather than a multi-use stadium. [15]

What are naming rights for college athletic facilities?

The purpose of this article is to shed some light on the relatively new phenomenon of corporate naming rights for college athletic facilities. First, the article will define naming rights and explain the benefits that are exchanged by the parties in a naming rights transaction.

Are there any major league sports with naming rights?

Since naming rights opportunities are limited and costs are so high in major league sports, a natural trend of growth would involve expanding beyond major league facilities into middle-tier markets, such as minor league and intercollegiate sports. [31]

Why do corporate sponsors invest in sports facilities?

There are several benefits why a corporate sponsor invests in a sports facility naming rights opportunity: [32]