http://www.nypost.com/seven/04022007/business/the_name_game_business_holly_m__sanders.htm THE NAME GAME By HOLLY M. SANDERS April 2, 2007 -- After two blockbuster deals for stadium naming rights in the last year, the New York Giants and Jets are salivating to put a name on their planned $1 billion-plus stadium. The Giants and Jets are gearing up to shop the naming rights after a crucial financing plan was approved this week, clearing the last barrier to building the stadium. The team owners are looking to fetch a price north of $20 million a year, coming on the heels of other record-breaking stadium deals in the New York market. There's little doubt the two-team stadium will top Citigroup's deal with the New York Mets stadium and Barclay's play for the New Jersey Nets arena. Both companies reportedly agreed to pay $400 million over 20 years. After those unprecedented prices, veteran sports marketers said the Giants-Jets football stadium has taken center stage, offering the biggest market and two of the biggest teams in the National Football League. "The asking price is high and the owners' expectations changed when the Mets and Nets deals were done," said one source familiar with those naming deals. Wasserman Media Group, which was tapped to sell the Giants-Jets naming rights, has already met with a handful of potential buyers over the last few months, the source said. "As the most valuable naming rights opportunity in the media capital of the world, the [stadium] has generated unprecedented interest in the marketplace," said Jeff Knapple, president of Wasserman's marketing division. At a high asking price, it's a given that only corporations with deep pockets, such as a big bank, phone company or car maker, would be able to do the deal, marketers said. The buyer will want more than a sign on the stadium and its own suite. Before the corporate board will agree to that kind of cash, the buyer will have to consider all the angles, ranging from TV exposure to team events. "It is certainly not enough to justify such a high price to put a corporate brand name on a building," said Phil de Picciotto, president at sports marketing firm Octagon. "That may have been common in the early days of sports marketing, but it's not rational today. One looming question is when will a deal get done? Sports marketers said stadium-naming deals can take place anywhere from a couple of months to six months. But the complexity and size of the Giants-Jets stadium could take longer - up to two years. In addition, the ink on the design for Giants-Jets stadium is barely dry, so potential buyers are just now beginning to see the building take shape. The stadium won't be completed until 2010, a full year after the new Mets and Nets buildings open. "Everyone is waiting," said one source familiar with the stadium deal. "There is a lot of pressure." Ok we learn a few things here the new stadium could get somewhere between $500-$800 million($25-$40 mil a year). From the article for possible names: Based in NYC(from wikipedia) Banks J.P. Morgan Chase Bank of New York Phone Verizon Communications Cars None
It certainly won't be Chrysler Field, GM Park looks like its a goner too. How about "The Golden Palace"?
I'd like to see a million Jets fans get together in a consortium, and buy the rights so that the stadium can have a decent name and not the name of some faceless corporation. Something like 'Namath Field' or 'The Airfield' would sound so much better than 'DiVX Stadium'. I'd chip in $500 over 20 years - all I need is another 999,999 fans... Anybody else up for it?
When a corp buys naming rights, I'm certain the contract includes the Teams supplying Players and Cheerleaders for various Corp events. Pro athletes and hot babes are a huge draw, and corps LOVE it when ppl show up to their events. I wonder if the lack of pro athletes for the Giants and the lack of cheerleaders for either Team will put a small damper on naming rights? Keep in mind that Hooters Girls are requested more than any other group in America for Corp events. Yup. T&A is at the top of any corp event. So you know that paying $20M/yr and getting ZERO hot babes for your Corp events kinda sucks. If some Corp was buying rights to name the Cowboys stadium, how much more do you think the contract would be worth if it included 5-10 apperances per year by the Cowgirls at various Corp events? Corp LOVE hot babes standing around looking pretty, driving golf carts, caddying, handing out trophys, etc. I guess if Hooters buys the naming rights to our new stadium it won't really matter!!!
The name of the stadium won't be: "Corporation Stadium" It'll most likely be something like: "Corporation Field @ the Meadowlands" or something like that. Maybe "Corporation Field @ Xanadu"
